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Fuel prices continue to decline

The current price of gasoline is making summer getaways a bit more affordable as the national average price for regular unleaded gasoline has descended for 28 consecutive days. Consumers filling up today are saving on average, $1.63 per gallon compared to last year on this date.

Gasoline prices have fallen every day since June 21.

Although oil analysts seem to be split on the direction of crude oil prices --some project a rise to $75 a barrel later this year while others see $58 per barrel as the next price milestone— the U.S. Dept. of Energy provides little reason to expect gas prices to do anything but continue their downward trend. Approaching the peak of the summer driving season consumer demand has registered an uptick in the past four weeks of just 0.6%.

"The major stock indexes rallied to a 7% increase for the week just ending and there was a modest lift for crude oil too, but many analysts are doubtful that investors are willing to speculate now that either the economy or the U.S. Dollar will push the price of crude oil higher," said Gregg Laskoski, managing director of public relations, AAA Auto Club South. "That's likely to leave retail gasoline prices declining incrementally but steadily, as we've seen for the past month."

On the New York Mercantile Exchange (NYMEX) crude oil closed Friday at $63.56 per barrel.