As far as summer driving seasons go, it doesn’t get much better than 2015.  According to AAA, since peaking for the year at $2.804 per gallon exactly three months ago today, the national average price of a gallon of gas has declined by 17% to $2.33.  On a YTD basis, prices at the pump are up 4.2% YTD, which is well below the historical average YTD gain of 22.8% for all years since 2005.  In fact, there have only been two other years during that span (2010 and 2014) where gas prices saw a smaller YTD increase at this point in the year (table below to left).  What makes the decline we have seen in gas prices this summer even more out of the ordinary is that we are only just now getting to the point in the year where prices begin their typical seasonal decline (chart below right).  At the rate things are going, a national average price with a “1” handle is certainly possible by year end.

Gas Prices 091415


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