Gasoline prices nationally are averaging $2.83, one-cent less on the week and four-cents less than last month, but 19-cents higher than a year ago, according to the AAA.
“With summer in the rearview mirror, demand is expected to significantly drop off in the coming weeks which means motorists can expect to see gas prices steadily decline,” Jeanette Casselano, AAA spokesperson, said. “AAA expects the national average to hit $2.70 or less this fall.”
U.S. crude inventories dropped by nearly 2.6 million barrels last week, according to the U.S. Energy Information Administration. Gasoline production, however, increased, averaging 10.2 million barrels daily with refinery capacity sitting at 93.6 percent.
The West Coast continues to be the nation’s most expensive market with six of the top 10 expensive markets. Gasoline reserves fell 1.2 million barrels, the largest drop in five months.
The Rockies saw prices decrease after weeks of increases. Still, Idaho and Utah remain two of the most expensive markets at $3.25 and $3.18 a gallon.
Gasoline prices in the Northeast and Mid-Atlantic were stagnant while inventory grew. Pennsylvania and Connecticut rounded out the top 10 most expensive markets, averaging $3.05 and $3.04 a gallon.
Prices in the Great Lakes and Central region and the South and Southwest fluctuated greatly.