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WDKX.com » Blog » Gas Prices Expected To Fall Through Labor Day
Aug 9th 2013 6:28 am
Gas Prices Expected To Fall Through Labor Day

Gasoline prices are expected to fall through Labor Day.

In just the last week, AAA reports national average gas prices dropped five cents in the last week, down to $3.58 a gallon.

Andrew Lipow, president of Lipow Oil, is forecasting that prices should continue to decline. He says in the absence of a tropical storm or hurricane hitting the U.S. or some unforeseen event in the Middle East, gas prices should drop another five to 10 cents through Labor Day.

Lipow says that's because demand is down compared to last year, gasoline inventory is up and refineries are operating at their highest rates since 2007.

Source:Whec