Lower_Gas_Prices2013_010313

2013 predicted to boast lower gas prices than 2012

Thursday, January 3, 2013 5:49:47 PM

When you're on business travel, some companies may reimburse the gas costs of car rentals, while other employers may not. Business professionals with plans to travel in 2013 may want to be aware of the predicted trends in gas prices.

If you felt as if you shelled out a lot of cash to fill up your tank in 2012, it's because you did. On average, gasoline prices were the highest last year than any other year on record, according to the American Automobile Association (AAA). The average price of gasoline was $3.60. These high prices were caused by a combination of factors, many of them, unforeseen. 

"Factors as volatile as major hurricanes, refinery outages and tension in the Middle East resulted in significant frustration for people filling up their cars," Avery Ash, AAA spokesman, said.

However, gas prices began to fall in December, which had the lowest monthly average of the year. The AAA predicts gas prices will continue to fall in 2013, as do other analysts. According to Newsday, even if crude oil prices temporarily raise this winter, they will likely decrease again because of seasonally weak gasoline demand in the winter.