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AAA: Gas prices down four cents, but tropical weather could push them higher

Chris Graham
gas prices
(© fred goldstein – stock.adobe.com)

The national average for a gallon of gas has dropped four cents since last week, despite growing gas demand, reports AAA.

One reason for the decreases is that the price of oil has been holding steady below $80 per barrel, but with the Labor Day holiday travel weekend approaching, and uncertainty in terms of what appears to be a developing tropical-weather season, there could be upward pressure on the horizon.

“Although the national average did a U-turn this week, the road ahead could lead to higher prices,” said Morgan Dean, a AAA Mid-Atlantic spokesperson. “Ongoing concerns regarding potential storm activity could hinder falling pump prices this fall.”

According to new data from the Energy Information Administration, gas demand jumped slightly from 8.85 to 8.91 million barrels per day last week. Meanwhile, total domestic gasoline stocks increased slightly from 216.2 to 217.6 million bbl.

Although demand increased, growing stock levels contributed to pushing prices lower.

Chris Graham

Chris Graham

Chris Graham, the king of "fringe media," is the founder and editor of Augusta Free Press. A 1994 alum of the University of Virginia, Chris is the author and co-author of seven books, including Poverty of Imagination, a memoir published in 2019, and Team of Destiny: Inside Virginia Basketball’s Run to the 2019 National Championship, and The Worst Wrestling Pay-Per-View Ever, published in 2018. For his commentaries on news, sports and politics, go to his YouTube page, or subscribe to his Street Knowledge podcast. Email Chris at [email protected].