Gas Forecast to be Cheaper this Fall Compared to Summer Prices
Written by WKTN Staff on September 1, 2019
LOCATION (August 26, 2019) – This fall when filling-up at the pump, the majority of motorists in Ohio and the rest of the Great Lakes and Central states will likely find savings of at least 25-cents/gallon compared to this summer.
This is despite Ohio’s recent gas tax increase of 10.5 cents, which took effect July, 1 2019. Robust regional refinery utilization, healthy levels of gasoline stocks, the drop-off in gasoline demand after Labor Day and the move to winter-blend gasoline will contribute to pushing gas prices cheaper than they already are at the pump.
“The most expensive gas prices of the year are likely in the rear-view mirror,” said Jeanette Casselano, AAA spokesperson. “With crude oil selling for less than $60/bbl and gasoline demand anticipated to decrease in coming weeks, motorists in the Great Lakes and Central states should expect to find savings at the pump this fall.”
While prices are likely to hit their lowest level of the year in coming months, that doesn’t mean the Great Lakes and Central States will see consistent decreases.
The region is well-known for price volatility with some states – especially Ohio and Michigan – seeing double-digit increases one week, followed by sizeable decreases the next.