Cheap crude oil paves way for cheaper gas this fall

Updated: Aug. 22, 2019 at 8:32 AM EDT
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(WDBJ7) - Gas prices are expected to make a significant drop this fall, according to AAA.

The national gas price average is poised to lower due to several factors, including cheaper crude oil prices, the drop-off in gasoline demand after Labor Day and the move to winter-blend gasoline.

AAA forecasts the national average to drop to $2.40 or lower this fall.

“AAA predicts that fall gasoline prices will be significantly less expensive than this summer with motorists finding savings in every market across the country,” said Jeanette Casselano, AAA spokesperson. “Many factors are driving this decrease, but the low price of crude oil is chief among them.”

Last fall, AAA says crude prices ranged between $60 and $75. In fall, AAA expects prices to range from $50 and $60.

In the South and Southeast regions, AAA says prices at the pump could drop below $2 per gallon this fall, however any major hurricanes could change that.

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