AAA: Gasoline price decrease ends streak

Nov. 18, 2013 at 8:13 AM
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WASHINGTON, Nov. 18 (UPI) -- AAA said Monday the average price for a gallon of regular unleaded gasoline has increased for the longest consecutive streak since August.

AAA reported a national average price of $3.20 for a gallon of regular unleaded gasoline. That's 2 cents more than the same time last week and represents the longest consecutive period of increases since August.

AAA spokesman Michael Green told United Press International there were planned and unplanned maintenance issues at several of the nation's largest refineries, which means there's a level of uncertainty ahead for retail gasoline prices.

"If supplies remain tight in various regions, then the national average [price] could remain flat or even rise 5- to 10 cents per gallon," he said. "If refineries come off maintenance and increase production to take advantage of falling domestic crude oil costs, then supplies would quickly build and bring prices down through the end of the year."

The U.S. Energy Information Administration reported last week it expected gasoline prices to average $3.24 per gallon during the fourth quarter of 2013.

Green said gasoline prices are "relatively cheap" as the national average is more than 20 cents less than the same time last year.

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