With the falling leaves of autumn comes the falling price of gasoline.
The fuel information clearinghouse gasbuddy.com reported Tuesday that U.S. drivers “can expect to see the cheapest gasoline prices for this season since the autumn of 2010.”
By Tuesday, the national average had fallen to $3.77 per gallon, the lowest price since Feb. 22. Company analysts predict that the U.S. average prices will find a bottom between $3.15 and $3.25 per gallon nationally, and that more than 30 states will see prices below $3 per gallon.
According to a gasbuddy.com release, three major developments have occurred that will provide the downward pressure.
• International crude prices are more than $15 per barrel below the June, 2014 peak.
• Autumn means changes in the “recipe” for gasoline. Most states can now use cool-weather blends that are easier to produce than other blends.
• Lower fall demand arrives as consumption prevails at about 12 million gallons per day less than drivers use in summertime. Gasoline prices typically hit bottom between Thanksgiving and the Martin Luther King holiday.
In Tacoma, gasbuddy.com reported that the average price of $3.75 per gallon is down 5 cents from a week ago, but up 4.2 cents from the $3.71 recorded last year.