US retail gasoline prices could fall to $3.10/gal by year’s end

22 October 2013 16:43  [Source: ICIS news]

HOUSTON (ICIS)--The average price for US regular unleaded gasoline at the pump is at $3.34/gal, just 1 cent/gal lower week on week, AAA said in its Fuel Gauge Report made available on Tuesday.

The last time the national average was less than $3.34/gal was on 25 January, according to the AAA. Following that, prices climbed by 49 cents/gal in 41 days to $3.79/gal on 27 February, which is still the 2013 high.

Over the past two weeks, retail prices have been essentially flat.

But despite the recent pause in the decline, AAA said it expects gasoline prices will fall even further approaching the end of the year.

“Due to sufficient supplies, flat demand and the shift to cheaper winter-blend gasoline, and barring a hurricane or other unexpected disruption to production and distribution, the national average is likely to fall to $3.10-3.20/gal by Christmas, which would be the lowest mark since February 2011,” said AAA’s Michael Green.

Current average

Week-ago average

Month-ago average

Year-ago average

$3.34

$3.35

$3.48

$3.67

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

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By: Anna Matherne
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