Steep drop expected for gas prices

AAA Three factors driving gas prices down

For a second straight week, OH was one of the states to see the largest drops in gas prices and among those with the 10 least expensive markets, AAA leaders said.

Gas prices in Lancaster County fell again this past week, erasing more of the surge triggered by Hurricane Harvey, a new survey shows.

After a 15% spike from late August through early September, gas prices have started what has been a welcome retreat from their recent hurricane highs. The automotive club AAA predicts the gas prices in the southeastern USA will fall 5 to 10 cents this week.

Now, levels are returning to normal and prices are on the decline.

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"That downward momentum is starting to pick up steam", Gasbuddy senior analyst Patrick DeHaan told ConsumerAffairs. Nationally, the average price for a gallon of regular unleaded gasoline is about 2.58, down 5 cents from last week.

Now, gas is still at an average of $2.59 - only a slight drop even though Harvey is gone and the other hurricanes didn't threaten gasoline production. A month ago, the average was more than 35 cents lower.

Motorists are seeing signs of falling costs, with Monday marking the 11th straight day prices have declined in Florida, and that drop is expected to soon pick up pace. The price in Vermont was down 4.2 cents in the past week, to 2.67 per gallon. The national average has increased 19.6 cents per gallon during the last month and stands 34.7 cents per gallon higher than this day one year ago. It's down four cents on the last week, but still 36 cents higher than a month ago.

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