According to the MarketWatch, America is about to see a decrease in summer gas prices after this Labor Day weekend. Gas prices typically rise during the summer months because of the increase in traveling. Now that the demand for gasoline is dropping, drivers can stop worrying about the increased prices.
MarketWatch believes the national average for gas prices will be $2.24 by the end of the summer. GasBuddy.com states that this is the lowest gas prices citizens have seen during the summer months since 2004.
The senior petroleum analyst for GasBuddy.com, Patrick Dehaan, explains the reason gas prices will decrease after Labor Day. He states, “Labor Day usually sees a downward trend because of the supply of cleaner-burning summer gasoline peaks at the close out for the summer, compared with being in short supply at the start of the summer driving season.”
But the decrease in gas prices isn't going to stop after the summer ends. Dehaan informs MarketWatch of his prediction for the near future of gas prices. He states, "The national average is likely to fall under $2 a gallon by Halloween."