Motorists heading out on vacation in the next month should expect gasoline prices to remain fairly constant, give or take a few cents.
Although gasoline demand has been slightly stronger in the past month, ample supplies have kept prices below $3 a gallon. It’s a trend that should extend to Labor Day, unless a hurricane shuts down oil production in the Gulf of Mexico.
“Typically, there’s not much difference between how much we drive in July and how much we drive in August,” said Tom Kloza, publisher and chief oil analyst at the Oil Price Information Service. “Without hurricanes, I think gasoline prices are probably going to trend lower.”
Kloza expects August pump prices to remain within 5 cents to 10 cents of the current range, with a national average hovering around $2.75 a gallon before falling as demand fades after Labor Day. The Associated Press
