Gasoline Prices Hit a Pre-July 4th Dip

AAA predicts lower gas prices will cause increase in travelers for holiday weekend

Consumers may be enjoying historically low gas prices, but that may soon change, analyst Dan McTeague told CNBC on Monday.

AAA also created a list of the top 10 destinations during the Independence Day holiday based on its summer travel bookings. "So that's quite a remarkable outcome, especially given that it costs more or refiners to make summer blend gasoline".

Average retail gasoline prices in OR have fallen 2.3 cents per gallon in the past week, averaging $2.61/g yesterday, according to GasBuddy's daily survey of 1,307 gas outlets in Oregon.

Danville is not one of the areas in the state in which AAA tracks gas prices, but of the areas that the organization does track, as of Monday the cheapest gas was in the Norfolk area, with an average of a $1.97 a gallon.

More Severe Weather Possible in Iowa Thursday
These storms will move east and out of central Iowa after midnight with drier conditions expected for Friday and the weekend. The big weather story is the storms in the forecast today and tonight then again Sunday night through the 4th of July.

"The combination of tepid demand and increased gasoline and crude oil output continues to put downward pressure on gas prices", said Lloyd Albert, senior vice president of public and government affairs for AAA Northeast. Though global oil price benchmark rose to $56 a barrel earlier in April, it has cooled off in May and June, falling to about $45 a barrel. OPEC members in May agreed to extend those production caps another nine months, but disappointed investors who wanted deeper cuts. The state was averaging $2.27 per gallon a year ago at this time.

The statewide average was higher than this area, at an average of $2.148.

Compared with previous years, the region's pumps are on average two cents cheaper than this time one year ago; 42 cents cheaper than in 2015; and $1.31 cheaper than in 2014.

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