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U.S. Fuel Prices Continue to Fall
The average price of regular-grade gasoline in the U.S. ends this week at $2.60 per gallon, down 16 cents from a month ago and 24 cents from a year ago, AAA reports.
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The average price of regular-grade gasoline in the U.S. ends this week at $2.60 per gallon, down 16 cents from a month ago and 24 cents lower than a year ago, AAA reports.
Today’s price averages range from $3.66 per gallon in Hawaii to $2.22 in Louisiana.
Average prices have declined by 15 cents since summer began and are likely to fall at least 10 cents more this autumn because of low crude oil prices, according to the insurance giant.
AAA predicts petroleum will slide to $50-$60 per barrel in the next few months compared with $60-$70 a year ago. U.S. fuel inventories remain high. And so far, self-imposed production quotas by members of the Organization of the Petroleum Exporting Countries haven’t boosted oil prices.
AAA cautions that an active hurricane season could disrupt U.S. refinery operations and cause fuel prices to jump.
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