AAA: Gas prices slowly, steadily declining

As summer slows to an end, gas prices across the country are getting less expensive. Today’s national gas price average is $2.84, which is three cents less than at the beginning of the month. With the exception of a handful of states, the majority of motorists are seeing slow, but steady pump price drops during the last few weeks.

“Compared to July, consumer demand for gasoline is weaning and prices are following suit,” said Martha Mitchell Meade, Manager Public and Government Affairs – AAA Mid-Atlantic. “The national average is expected to keep moving lower, especially with the switch-over to lower grade gasoline in September.”

In September, gas stations will start selling winter-blend gasoline. This blend, which is cheaper to produce, contains a fuel that evaporates at low temperatures for vehicle engines to operate properly, especially when the engine is cold.

The national gas price average is saving motorists two-cents on the week and one-cent on the month, but motorists are paying 50-cents more than this time last year.

All motorists in the Mid-Atlantic and Northeast are paying one to five cents less this week to fill-up. With a nickel drop, Delaware lands on the top 10 states list with the largest changes in gas prices on the week. Maryland, Washington, D.C. and Tennessee (-3 cents) had the second largest drop in the region.

Mid-Atlantic and Northeast state gas price averages range from as expensive as $3.05 in Connecticut to as cheap at $2.60 in Virginia.

With a 800,000 bbl draw, gasoline inventory levels now sit at 63.2 million bbl – the lowest levels reported in the region by the EIA since early May.