Gas prices dropping overall, but could see brief hike for Labor Day




As summer slows to an end, gas prices across the country are getting less expensive. Today’s national gas price average is $2.84, which is three cents less than at the beginning of the month. With the exception of a handful of states, the majority of motorists are seeing slow, but steady pump price drops during the last few weeks.

“Compared to July, consumer demand for gasoline is weaning and prices are following suit,” said Jeanette Casselano, AAA spokesperson. “The national average is expected to keep moving lower, especially with the switchover to lower grade gasoline in September.”

Tepid demand alongside growing domestic stocks of gasoline, which increased 1.2 million bbl last week, could cause pump prices to dip slightly in the run-up to Labor Day. However, demand is expected to spike around the holiday, leading to a likely, but brief price jump, as drivers take to the nation’s roads one last time before fall arrives.

In September, gas stations will start selling winter-blend gasoline. This blend, which is cheaper to produce, contains a fuel that evaporates at low temperatures for vehicle engines to operate properly, especially when the engine is cold.

The national gas price average is saving motorists two-cents on the week and one-cent on the month, but motorists are paying 50-cents more than this time last year.

Quick Stats

  • The nation’s top 10 most expensive markets are: Hawaii($3.76), California ($3.60), Washington ($3.38), Alaska ($3.34), Oregon ($3.25), Idaho ($3.23), Nevada ($3.19), Utah ($3.18), Connecticut ($3.05) and Pennsylvania ($3.04).
  • The nation’s top 10 largest weekly changes are: Michigan (-10 cents), Illinois (-7 cents), Utah (+6 cents), Florida (-5 cents), Delaware (-5 cents), Ohio (+4 cents), South Dakota (-4 cents), Georgia (-3 cents), Oklahoma (-3 cents) and South Carolina (-3 cents).

 

South and Southeast

All motorists in the South and Southeast region are saving pennies at the pump with prices as much as a nickel cheaper on the week in Florida. Georgia, Oklahoma and South Carolina all saw their gas price averages drop three cents since last Monday. These four states land on the top 10 list of states with the largest weekly change.

Motorists in the South and Southeast region are seeing cheaper prices at the pump as inventories built for a second week in a row, reported the EIA. Adding half a million bbl, total inventories sit at 80.1 million bbl, which is the highest level seen since the Independence Day holiday.

Despite this week’s cheaper prices, some motorists in the South and Southeast are paying as much as 52-cents more to fill up compared to last August: New Mexico (+52 cents), Florida (+52 cents) and Georgia (+51 cents). Regardless, the region continues to carry some of the cheapest state gas price averages in the country.


Find the lowest gas prices in Southwest Georgia on Sowegalive’s Fuel Prices page!




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