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AAA: U.S. gasoline prices should fall

Dec. 2, 2013 at 11:39 AM

WASHINGTON, Dec. 2 (UPI) -- Following a November spike, AAA said Monday it expects U.S. retail gasoline prices to fall at least 10 more cents by the end of the year.

AAA reported a national average price Monday for a gallon of regular unleaded gasoline of $3.26. Michael Green, a AAA spokesman, told United Press International the price for a gallon of gasoline has fallen for five straight days. It followed a late November streak of 15 consecutive days where prices increased.

"We expect gas prices will continue to fall in the weeks ahead as refineries increase production and supplies build in many parts of the country," he said. "Prices could drop another 10-15 cents per gallon by the end of the year if supplies build as expected."

Green said last week seasonal maintenance at oil refineries was taking longer than expected to conclude, which explained the mid-November price increase.

Missouri, with a state average Monday of $2.94 per gallon, was one of only two states in the Lower 48 with gasoline prices under $3 per gallon. Oklahoma reported a state average of $2.97 per gallon.

AAA said last week it expected 43.4 million people would drive more than 50 miles during the holiday. Green said the motor club wouldn't have an assessment of how many travelers actually took to the roads during last week's holiday until January.

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