U.S. drivers should see lower gasoline prices over the next few months.
In its new forecast, the U.S. Energy Information Administration said the monthly national average price should fall to $3.61 per gallon in September from the $3.69 per gallon average in June.
For the summer driving season as a whole, which runs from April through September, gasoline is expected to average $3.66 a gallon….about 8 cents higher than last year.
Pump prices are up compared to last year mostly because of higher crude oil costs. Recent unrest Iraq has put upward pressure on oil prices, which account for about two-thirds of what drivers pay for at the gasoline pump.