After Reaching Four-Year High, Gas Prices Could See Drop

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Gas prices climbed to a four-year high this summer, but after Americans return from Labor Day weekend road trips, pulling up to the pump may be less painful on the wallet. 

It’s been an expensive summer for drivers. 

“I’ve been spending more money on gas than I normally would,” Driver Alexis Collins said. 

Olin Ugo is also feeling the pinch, he uses his car to make deliveries for work. 

“Yeah it definitely impacts my budget. I definitely have to spend less, save up for some gas,” Ugo said. 

“There are a lot of factors that are making gas prices higher this year a few of those include supply and demand, tons of international demand but not enough supply to keep up with that demand in addition to volatile crude oil prices,” Jeanette Casselano with AAA said. 

But Casselano says relief is on the way. 

“The good news for consumers is gas prices are going to be cheaper this fall,” Casselano said. “Typically in the fall, we do see gas prices drop that’s because we see demand going down, people are done taking their summer road trips.” 

Also, refineries are able to switch to a winter blend in September, which is cheaper to produce. In a new report, AAA, predicts those factors will help push prices down about 13-cents a gallon in the coming weeks. 

“Good, good, I’m looking forward to it — saves me a lot because I travel a lot,” Ugo said. 

“That would be great, they need to drop,” Collins said. 

An economic crisis in oil-producing Venezuela and sanctions on Iran could hurt future supply and trigger a jump in prices. But right now, experts believe driving is about to get cheaper. 

According to AAA, South Dakota is just a tinge above the national average at $2.84 a gallon.

The average in Minnesota, Iowa and Nebraska is a little lower ranging from $2.71 to $2.75.

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