When gas prices are cheapest
Tired of paying so much for gas? Discover how geopolitical events, seasonal demand and crude oil prices affect your price at the pump.
Drivers heading out for one last long holiday weekend before summer ends may be able to save money at the pump.
Gasoline prices have dropped ahead of Labor Day weekend. The average price in Ohio on Monday was $3.21 per gallon, according to AAA, down 38 cents from a month ago and 27 cents from a year ago.
However, many petrol stations also sell petrol at significantly lower prices.
Gas Buddy shows a handful of gas stations in Columbus selling gas for $2.79 a gallon on Monday, and other stations selling for $2.83 a gallon.
According to AAA, the national average is $3.35 per gallon.
Why are gas prices falling?
AAA attributes the price decline to several factors: weak demand for gasoline, a hurricane season that has so far not affected energy markets, and a well-supplied oil market. Oil prices have remained low despite the unrest in the Middle East.
However, AAA warns that prices could rise further ahead of the weekend as drivers prepare for the last hurrah of the summer.
Fall is typically the time of year when gas prices are cheapest, but AAA warns against taking low prices for granted.
Global unrest and refinery maintenance could drive up prices.
AAA advises drivers to take advantage of low prices by, for example, collecting loyalty points that can further reduce prices at the pump. AAA also recommends drivers keep their cars regularly serviced and drive slower to improve fuel economy.
@BizMarkWilliams
