Cost Factors - Crude oil constitutes approximately 49% of gasoline costs [1] - Distribution and marketing account for 19% of gasoline costs [1] - Refining and taxes each contribute 16% to gasoline costs [1] - Summer grade gasoline production is more expensive due to stricter environmental standards [3] Market Trends and Predictions - The US Energy Information Administration forecasts a 9% drop in gasoline prices for the summer of 2025 [2] - The price drop is largely attributed to OPEC plus's decision to increase oil production in July [2] Consumption and Price Fluctuations - Gasoline consumption increased by 2% over Memorial Day weekend compared to the previous year [4] - Current prices for July and August indicate further declines [4] - This year's summer gas prices are expected to be lower, offering relief to drivers [3][4]