There’s good news for motorists this month, according to AAA’s Monthly Gas Price Report. Gas prices may cost less than in recent years in August as long as refinery production remains strong and oil costs do not rise due to unexpected issues.
August is the busiest driving month of the year, according to data collected by the Federal Highway Administration. Last August, U.S. drivers drove an estimated 266.9 billion miles.
Today’s national average price of gas is $3.52 per gallon. The price for regular unleaded gas in Ohio was less than the national average, at $3.34 today, and $3.40 in Southcentral Ohio this past week, according to AAA East Central.
AAA says the biggest threat to continued falling prices would be a major hurricane striking the U.S. Gulf Coast. Prices also could rise or remain flat if refineries cut back on production or if there are any major refinery outages. Hurricanes often strike in August, which can disrupt oil production, refinery facilities and pipelines. In August 2012, Hurricane Isaac swept ashore in Louisiana. The brief closure of surrounding refineries helped increase the national average price of gas by 11 cents per gallon over nine days.
AAA updates fuel price averages daily at www.FuelGaugeReport.AAA.com based on credit card swipes and direct feeds from 120,000 stations in cooperation with the Oil Price Information Service (OPIS) and Wright Express.