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Gas prices decline due to lower oil prices

Triple A says gas prices are at a 12-year low

ORLANDO, Fla. – Gas prices are at record lows.

According to AAA, consumers are experiencing the lowest rates in more than a decade.

Holidays usually increase the demand for gas, but this Labor Day consumers were spoiled with gas rates of 24 cents less than last year. The average rate for unleaded gas is currently at $2.22 per gallon.

"Despite the increased gasoline demand from holiday travelers, gas prices actually declined a couple cents throughout the holiday weekends thanks to lower oil prices," said AAA spokesperson Mark Jenkins. "Gas prices in the fall should get even cheaper, because demand declines as Americans return to work and school."

AAA has plans to even reduce the cost of production over the upcoming weeks. Refineries will switch to winter-blend gasoline, a less expensive gas to produce.

During the maintenance process, issues can arise, which will raise gas prices. For the time being, Americans are enjoying a less costly trip to the gas station.

 


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