Gasoline Price Forecast to stay below $3 a gallon for 2015

The national average pump price for gasoline is expected to stay below $3 per gallon during 2015.

In its new monthly forecast, the U.S. Energy Information Administration said the retail price for regular gasoline should average $2.33 per gallon this year.

The price of gasoline increased in early February after falling for 17 weeks in a row.  But gasoline prices will continue to remain low in 2015 when compared with pump prices in recent years because of expected low crude oil costs.

As a result, the average U.S. household is expected to save $750 in gasoline costs this year compared with 2014.

Source: EIA