Drop in US retail gasoline prices could continue into September

13 August 2013 17:53  [Source: ICIS news]

HOUSTON (ICIS)--The US national average price for regular unleaded gasoline is at $3.54/gal, 7 cents cheaper than one week ago and 16 cents/gal lower year on year, automobile organisation AAA said in its Fuel Gauge Report on Tuesday.

For the same time in 2012, gasoline prices gained 33 cents/gal, AAA said.

While current retail gasoline prices have moved lower, increases in the coming weeks could happen if hurricanes develop and cause refinery shut downs, which could disrupt gasoline production and distribution.

Without any major disruption from hurricanes, the upcoming change to winter-blend gasoline in September could keep gasoline prices low or cause further declines.

“The tropics are quiet at least for now, and haven't seen a major storm threaten land yet this year for the Atlantic. Gas prices could jump should a major storm threaten the Gulf, so keep your eyes out,” said GasBuddy.com’s Senior Petroleum Analyst Patrick DeHaan.

Current average

Week-ago average

Month-ago average

Year-ago average

$3.54

$3.61

$3.60

$3.70

Prices are the US average per gallon of regular unleaded retail gasoline

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By: Anna Matherne
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