Trend continues with gas prices dropping 37 cents over the summer

Trend continues with gas prices dropping 37 cents over the summer

Average U.S. gas prices have dropped about 37 cents per gallon since hitting a 2015 peak price of $2.80 on June 15, says the American Automobile Association. With a growing portion of vehicle sales devoted to utilities and light trucks, even in the normally car-dominated Washington area, itês important to keep tracking gas prices.

Gas prices averaged $2.60 per gallon in August, the lowest average for the month since 2005. One reason we can expect a continued lowering of prices: Gas prices generally drop after Labor Day, which is considered the end of the summer driving season.

–Gas prices in many parts of the country could fall below $2 per gallon by Christmas if the cost of crude oil remains low,” said AAA spokesman Avery Ash. –There is good reason to believe that cheaper oil costs, a seasonal decline in driving and the switchover to less costly winter-blend gasoline will continue to push down prices through the end of the year.”