There are signs that residents are finally seeing the benefit of the reduction in the gas tax that took effect July 1; however, that could all change if the area experiences a heavy hurricane season.
“Retail prices continue to fall, but future prices will likely depend on the hurricane season and any potential refinery problems,” said Martha M. Meade, Manager of Public and Government Affairs for AAA Mid-Atlantic. “Refineries will begin the changeover to winter-blend gas on September 15, which could cause prices to remain flat as long as refineries run smoothly.”
The Atlantic hurricane season is still expected to be unusually active throughout the season, according to an Aug. 8 report by the National Oceanic and Atmospheric Administration.
According to AAA analysts, the national average price for regular unleaded gasoline dropped to $3.58 per gallon Friday, a 5-cent drop in the past week. Residents can find gas prices as low as $3.34 per gallon locally, which is almost a 3-cent drop over the past week and a 10-cent drop from last month.
“Nationally, the pump price average is 21 cents lower than the peak price this year of $3.79 on February 27 and 53 cents below the all-time daily high of $4.11 per gallon on July 17, 2008,” AAA said.
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