Lowest summer gas prices in 12 years

TAMPA, Fla. – Americans paid the lowest gas prices for the Labor Day holiday weekend in since 2004. The national average of $2.22 is 24 cents less than Labor Day 2015, and $1.24 less than the holiday two years ago. 

"Despite the increased gasoline demand from holiday travelers, gas prices actually declined a couple of cents throughout the holiday weekend thanks to lower oil prices," said Mark Jenkins, spokesman, AAA - The Auto Club Group. "Gas prices in the Fall should get even cheaper, because demand declines as Americans return to school and work." 

On average, gas prices in September 2015 declined 15 cents in Georgia, 16 cents in Florida and Tennessee, and 17 cents nationwide. The monthly average prices were $2.34 (U.S.), $2.20 (FL), $2.19 (GA), and $2.05 (TN). During the past three years, gas prices declined an average of 12 cents nationwide, and 11 cents in Florida, Georgia, and Tennessee. 

"Prices are stable now, but could be somewhat volatile in the next couple weeks, as refineries reduce output and begin seasonal maintenance. By the middle of the month, refineries switch to winter-blend gasoline, which is cheaper to produce, because it contains fewer additives than what the EPA requires for the hotter summer months. Refinery issues are known to happen during maintenance season, which can lead to increased prices at the pump," Jenkins said.

In addition to Labor Day, motorists enjoyed the lowest gas prices for the summer season since 2004. From June 1 - August 31, 2016, the national average price for a gallon of regular unleaded was $2.23. Regionally, the summer averages were $2.19 in Florida, $2.11 in Georgia, and $2.03 in Tennessee. Prices responded to lower oil prices and increased fuel supply. 

CURRENT AND PAST PRICE AVERAGES

Regular Unleaded Gasoline