Gas Prices Expected To Fall, But Great Lakes Region Still Subject To Volatility

Motorists are likely to pay less at the pump this fall, according to AAA. 

The majority of the U.S. could see savings of 25 cents per gallon of regular gasoline, compared to prices this summer. Less-expensive crude oil, a drop in demand for gasoline after Labor Day weekend and the seasonal transition to a winter-blend gasoline are expected to contribute to the lower prices, AAA says. 

The organization forecasts the national average of a gallon of gas to drop to $2.40, or lower, this fall. But, its regional outlook for the Great Lakes and Central states warns the historically volatile market is still susceptible to sudden price shocks. An active Atlantic hurricane season also has the potential to drive prices higher by disrupting production at refineries. 

On Tuesday, Aug. 27, the average price for a gallon of regular gasoline in Indiana was $2.46. At $2.59, the national gas price average is poised to the cheapest Labor Day weekend average in three years.