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Gas Prices Expected to Remain Low This Year

Anthony Inswasty
/
Wikimedia Commons

Gas prices are expected to remain low this year, according to Colorado Public Radio. The average price at the pump is expected to range from $2.25 to $2.45 a gallon.

In 2015, crude oil prices fell by more than a third. The going rate for a barrel of crude currently sits at around $38. The continuing low gas prices are a result of the persistent low cost of oil.

Crude prices, too, are expected to remain low for much of the year.

The American Automobile Association says gas prices will vary according to region. Global events or changes in the oil market could also lead to an increase in prices at the pump.