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“Drivers traveling on summer’s last big weekend face the highest Labor Day gas prices since 2014, but higher inventories and lower demand for gasoline are expected to reduce costs at the pump as the peak driving season comes to an end.
How far and how long gasoline prices will fall, of course, depend on crude prices, which have rallied this week as supplies appear to tighten
U. S. gasoline inventories, however, remain about 5 percent above the five-year average, despite declining by 1.6 million barrels last week, the Energy Department reported Wednesday. Demand spiked ahead of the three-day weekend, according to the Energy Department, but average consumption this summer has been softer compared to last season in part because of higher gas prices.
Experts say that plentiful supplies and waning demand will likely provide additional relief to motorists after Labor Day, which ends the busy summer driving season and begins a shift to cheaper, winter-grade gasoline. Rising crude oil prices, however, could slow or offset those declines, particularly if U. S. sanctions on Iran continue to curtail global supplies.
“You can expect gas prices to drop, but the question is by how much,” said Denton Cinquegrana, chief oil analyst for IHS Markits’ Oil Price Information Service.
Gas prices this summer increased alongside crude oil prices to reach their highest levels since 2014. Nationally, gas prices are expected to average $2.84 a gallon over the holiday weekend, about 20 cents higher than last year, according to GasBuddy, which tracks prices nationwide.”
Most Helpful Guys
It's a natural result of economics.
If you don't like it, then don't drive.
If you have to drive, get an electric car or a hybrid, then you will be less impacted by the fluctuation in gas prices.
I'm still trying to recover from when the price of gas went above $0.99/gallon in the late 1970s.0
despite what someone "feels" about it, there's not much they can do to make a change. logical recourse is to ween ones self from gasoline.
bit of advice: it's best to do one's homework as soon as possible after its being assigned AND use one's own research/educated rationale to justify their own answer.0
Most Helpful Girls
Cheaper there than it is in Oregon. Last time I got gas it was $3.39 a gallon but it depends on how much the state adds to your prices for taxes.0
Its unfair but the gasoline market is fierce and I can almost asure you that if someone came up with a car that only works with air that person idea would be bought by a company to never be used again or the person will be dead by the next day. It's all about money0