Posted at: 09/30/2013 5:16 PM
Gas Prices Predicted to Continue Dropping
(ABC 6 NEWS) -- According to AAA, gas prices dropped in September at the fastest rate in 11 months. The decrease is expected to continue going into Winter.
Prices decreased in September 19 cents per gallon. The national average now sits at $3.40, which is the lowest since January.
The average price in Minnesota for a gallon of regular unleaded is $3.32. That is more than 50 cents less than what we were paying at this time last year.
“Most drivers are paying the lowest gas prices in more than eight months due to abundant gasoline supplies, the end of the summer driving season, lower oil costs and the switchover to winter-blend gasoline,” said Avery Ash, AAA spokesman. “Supply and demand is working in most consumers’ favor with consumption down and gasoline stocks more than 10 percent higher than a year ago.”
In our area, people in Rochester are paying the least amount averaging around $3.25. It's around $3.28 in Albert Lea and $3.31 in Austin.
“Gas prices could drop another 25-30 cents per gallon to the cheapest averages of the year barring significant refinery problems or higher oil costs,” continued Ash. “Averages in as many as five to ten states could drop below $3.00 per gallon, but there is a floor to how low the national average can go given the very high cost of crude oil.”