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Gas Expected to Cost Less in 2013

Posted at: 01/08/2013 10:43 PM
By: Steph Crock

(ABC 6 News) -- Lately we've been paying some of the lowest gas prices we've seen in a long time and there are now predictions out for what prices could be for the new year.

Prices are expected to be lower on average than what we saw last year. However, they're also predicted to go up from where they are right now.

Many of us keep a watchful eye on the price at the pump. "I remember back in 2003 when I moved to the United States it was around 1 dollar something, and I mean last year it was almost like 4 dollars," said driver John Kolaed.

"Well I'd like to see them go lower than they are today," said driver Sue Drake. Though taking a look at the current price at $2.97 compared to a few months back, that's a steal.

We chatted with a petroleum expert from GasBuddy.com and he said the prices in 2012 were some of the highest we've seen. "What we saw in 2012 were not record prices but extremely high prices," said GasBuddy.com Petroleum Analyst Gregg Laskoski.In part because of multiple refinery fires and hurricane Sandy.

"Well those are the types of events that we cannot factor in, these are unforeseeable events," said Laskoski. Which is why it makes it tough to predict what the prices will be like this year, but he said they can get a pretty good idea looking at seasonal trends. "Federal regulations, such as ones that mandate a summer blend gasoline from May 1st through September 30th and a winter blend of gasoline from October through April," said Laskoski.

Though, some of those upcoming months look to be pretty high. "In Minneapolis were projecting that when prices peak, which we expect to be in late April, we are expecting prices in Minneapolis to be in the range of $3.85 to $4.20 a gallon," said Laskoski.

"Oh no...no I hope it doesn't get that high up anymore!" said Drake. However, if you take a look at 2013 as a whole, we're actually predicted to pay less. "I'd like to see them around $2.50!" laughed Drake.

$2.50 sure would be nice, but experts say prices right now will likely be some of the lowest prices of the year. We've posted the full report on our website under the "links" tab.