Relief At The Pump; Less Pinch Being Placed On Wallets
As the summer driving season is coming to a close, more people are feeling relief at the pump and in their pocketbook. However, the rate at which gas prices are falling is pretty dramatic and noticeable.
The national average is around $3.65 a gallon, down 12 cents from last week. According to the fuel gauge by AAA, it’s the largest drop in gas prices since Dec. 11, 2008.
The lower gas prices are due in part to the lower price in a barrel of oil, which closed under $87 Tuesday… the first time in three months.
Avery Ash with AAA said another reason for the decline is that refineries are changing over to the winter blends. Some motorists believe politics does have something to do with it since many of the dramatic drops are happening in key battleground states such as Ohio, which has seen a drop of 24 cents in the last week.
Ash said it all boils down to demand fundamentals and international supply.
The majority of drivers don’t really care why the price is dropping; only that it is. Many pray that the downward spiral will continue to occur during the holiday season.
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