U.S. gasoline prices move lower into holiday travel season

U.S. gasoline prices move lower into holiday travel season

Drivers can expect pump prices to continue to drop heading into the holiday season as supply strengthens and fall gasoline demand weakens.

Gas prices have finally dropped below where they were when Hurrican Harvey sent them skyrocketing.

Motor club AAA lists a national average retail price of $2.41 for a gallon of regular unleaded gasoline as of Tuesday. The Florida average is falling at a rate of a penny per day. California has the highest average price in the Lower 48 at $3.09 per gallon. Gas prices had fallen almost 14 cents in the last month, but were more 9 cents higher than a year ago.

Adding to the declining trend, US refineries switch late in the year to a winter blend of gasoline, which is less expensive to make because more steps are needed with the summer blend to prevent excessive evaporation.

There is still a potential for further reductions in price.

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In Florida, the most expensive average gas price was $2.52 in the West Palm Beach-Boca Raton area.

In 2016, we were looking at prices 17 cents lower than what we are now seeing nationally, AAA reports. Petersburg-Clearwater and Jacksonville regions.

Compared to this time last month, the national average price of gas -$2.43-is 12 cents per gallon less expensive, but compared to a year ago its 20 cents more per gallon.

"In addition, the gap between prices today and a year ago is also at its narrowest in months, highlighting that prices are moving in the right direction for many", he said.

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