AAA: $3 per gallon gas possible

Summer travel season ends, pushing seasonal demand lower.
By Daniel J. Graeber Follow @dan_graeber Contact the Author   |   Sept. 4, 2014 at 8:36 AM
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WASHINGTON, Sept. 4 (UPI) -- With the Labor Day holiday in the past, the summer driving season is over and U.S. travelers can look forward to lower gasoline prices, AAA said.

The official summer driving season runs from Memorial Day through Labor Day. On Sept. 15, U.S. refiners can switch to a winter blend of gasoline, which is less expensive to produce.

In the days leading up to the refiner deadline, gasoline supplies can get limited, but motor club AAA said prices should continue to drop through the season.

"The big crunch in summer travel is done and most of us can look forward to lower gas prices during the next few months," AAA spokesman Avery Ash said in a statement Wednesday.

AAA says the national average price for gasoline is $3.43. AAA said prices could drop by as much as 20 cents by October and some gasoline retailers could post prices below $3 per gallon.

Gasoline prices are a reflection of oil prices, which typically rise and fall in response to global geopolitical tensions. AAA in past reports said oil prices have shrugged off ongoing conflict in Iraq and Ukraine because actual supply disruptions were limited.

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