All About Japan Autos

For the past few summers, consumers paid a premium at the pump. Fall is here, and according to the most recent report, gas prices have been flat for the past two weeks..

CNN reports: “The latest Lundberg Survey, conducted Friday, found the average price of self-serve regular gasoline was parked at just under $2.69. That’s a dip of eight-hundredths of a penny from the last survey, two weeks ago, and nearly 17 cents more than a year ago.”

Why are gas prices stagnant? “Drivers can thank the slower driving season and a glut of supply for the continuing slide in gas pump prices,” writes the Associated Press. “Prices have been affected by regional factors in the past couple of weeks. Motorists in parts of the South headed to pumps to fill up in anticipation of tropical storms that might have disrupted Gulf of Mexico production, but the storms steered clear, PFGBest analyst Phil Flynn said. In addition, prices in the Midwest spiked after the recent shutdown of a pipeline feeding Midwestern refineries. That pipeline is delivering crude again.”

Analysts have different predictions for the next few months. Bloomberg Businessweek says, “Analysts say they expect oil prices to continue to drop — barring a hurricane that disrupts Gulf of Mexico production or a significant shift in the economy.” Over the next few weeks, prices could range from $2.25 to $2.75 a gallon.

The Associated Press says, however, that “…analysts expect retail gasoline prices to stay steady in October and November, as supplies remain plentiful and demand is listless compared with a peak summer driving season.”

Despite decreasing gas prices, buying a more fuel efficient or hybrid car will help consumers save even more money.

If you’re in the market for a new car, check out the U.S. News rankings of this year’s best cars as well as this month’s best car deals. Also, be sure to check us out on Twitter.