Gas Prices Continue to Slump

(Undated) — The national average price of gasoline has continued to slump for the fifth straight week. According to GasBuddy Head of Petroleum Analysis, Patrick De Haan, with the summer driving season now over, we have much to look forward to for the fall including more drops at the pump as demand drops seasonally, and the changeover to cheaper “winter gasoline” is just two weeks away. De Haan says as long as we don’t see a major hurricane head into the Gulf and the situation improves in the Middle East, the national average could fall below $3 in the next two months. He says while diesel prices fell slightly last week, they may rise with winter growing closer and the economy’s likely rebound ahead of the Fed’s expected rate cut. So while it’s great news for gas prices, diesel will likely soon see its seasonal rise kick in. The current national average for a gallon of regular unleaded is $3.31 a gallon.