Local gas prices trickling down in Triad

Fuel Economy Stay the Course-1

"Gas prices are dropping as the situation with refineries, pipelines and gasoline deliveries is positively progressing", said Jeanette Casselano, AAA spokesperson.

Pensacola saw the least expensive average in Florida with prices at $2.63 per gallon.

That's 2 cents down from a week ago, when prices were recorded at their highest point for 2017.

The disruptions caused gas prices to rise 28 cents nationally.

Fuel demand also remained high last week due to an influx into the area of Floridians evacuating the Sunshine State during hurricane Irma.

Gasoline availability continues to improve after Hurricane Irma drove up demand and left many gas stations without fuel, the auto club AAA said this week.

Hedge funds and other money managers raised their net long position in USA gasoline futures and options to 69 million barrels in the week to September 12, the highest level since May 2014.

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According to the latest statistics from the U.S. Energy Information Administration, both hurricanes led to higher than average gas prices over the last couple of weeks.

In the two weeks since, Gulf Coast refineries have appeared to recover and start up to full production, keeping prices from increasing further.

"Gas prices are poised to plummet 30 cents", Jenkins continued.

After rampant speculation; a series of devastating hurricane and media hype, average gas prices in CT and on the national level are on the downswing, according to AAA Northeast.

The lowest national average in 2017 was $2.23 on July 5.

"Plus, the threat of any new storms making landfall in the United States would compromise the collapse", he said. "In fact, this week could see some of the largest drops in gas prices in many months", he said.

A survey of gas prices conducted through AAA Northeast on Monday found self-serve, regular unleaded averaging $2.72 per gallon, one cent less than week ago.

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