Slight decline in gas prices
Published 11:02 pm Monday, September 3, 2012
Gas prices were higher than they’ve been going into any other Labor Day weekend on record, but experts predict some relief at the pump is coming fairly soon.
According to AAA, the national average price of regular gas jumped 9.4 percent in August – the biggest percentage gain in more than three years.
The AAA national average dropped Saturday by two-tenths of a cent to just under $3.83 – the first decline in nine days. The price has remained unchanged for the past two days.
On Monday, the price for regular unleaded at the majority of Andalusia’s convenience stores was $3.59 per gallon and $3.99 for diesel fuel.
Still, the weekend’s price beat the previous record of $3.67 heading into the 2008 Labor Day weekend. Tom Kloza, chief analyst at the Oil Price Information Service, said a number of factors are likely to lower gas prices soon, adding that $3.25 per gallon is achievable by year’s end.
The damage from Hurricane Isaac is not believed to be serious, which should allow Gulf Coast refineries to get back to work quickly. The end of the summer blend of gasoline on Sept. 15 could bring prices down 20 cents a gallon over the next month or so.