Gas Prices Should Continue To Drop Through Rest of the Year

(KNSI) – Gas prices are tumbling, which is what we should expect this time of year.

AAA Regional Director of Public Affairs Gene LeDoucer explains, “Primarily, it’s a seasonal issue. The fall swoon, if you will. Gasoline prices generally move lower this time of year with the introduction of cheaper blends of winter fuels, combined with less travel.”

LeDoucer says there are a couple of other factors at play that are helping out. “Over the past couple of years, people are still working from home more than they had in the past, fuel economy standards have gotten better, electric vehicles are becoming a little more prominent. So, fuel demand is down a little bit.”

LeDoucer says the Russia-Ukraine war also plays a part in bringing down gas prices. He says that Europe depends on diesel fuel produced here since they have embargoed Russian fuel. Refineries get diesel and regular unleaded as they convert oil to gasoline. That extra supply is used here, helping us out.

While there will likely be some bumps around the Thanksgiving and Christmas holidays, LeDoucer says lower gas prices are usually the rule until next February or March.

Refineries do maintenance in late winter, followed quickly by the busy summer driving season. The lowest gas price in St. Cloud is $2.79 at Costco and $2.86 at Holiday on 5th Street South, according to Gas Buddy.

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