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updated: 5/22/2014 2:22 PM

Gasoline prices have familiar look as summer nears

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  • The price of gasoline should look familiar to many drivers this Memorial Day.

      The price of gasoline should look familiar to many drivers this Memorial Day.
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Associated Press

The price of gasoline should look familiar to many drivers this Memorial Day. For the third year in a row, the national average will be within a penny or two of $3.64 per gallon. Gasoline in the Chicago area has been spilling over $4 a gallon in some locations.

Steady gasoline prices are largely the result of crude oil prices that have remained steady too, as rising output in the U.S. and elsewhere have offset declining production in OPEC countries such as Iran and Libya.

The national average masks big price changes in some regions, though. Drivers in the middle of the country are paying far less than they were last year, while drivers on the coasts are paying more.

Analysts expect the national average price to slide lower through the beginning of the summer.

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