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Gas Prices Should Drop in Fall – If Hurricanes Stay Quiet

Contributed by: Heath Combs

Gas_StationAccording to the American Automobile Association, motorists across the country should see gasoline prices drop by about 25 cents per gallon in the fall – if hurricanes manage to stay calm.

AAA, in a USA Today article, expects that gas prices could average around $2.40 a gallon for regular, which would be down from a $2.75 high on July 4.

Three primary factors are driving the projected decrease:
  • Crude oil prices for the rest of the year should remain low, currently at $55 a barrel. And the longer-term view into 2020 is lower crude prices due to worldwide oversupply.
  • Demand for gas after Labor Day drops.
  • In September, winter-blend gasoline, which is cheaper to produce, goes into production.
But gas prices can spike overnight when large hurricanes hit refineries and drilling operations in coastal regions.

The hurricane outlook from the National Oceanic and Atmospheric Administration says that current conditions “are now more favorable for above-normal activity since El Nino has now ended.”

The peak months for hurricanes are August through October. NOAA is expecting 10-17 named storms, of which 5-9 will become hurricanes and 2-4 will develop into major hurricanes – with winds greater than 111 mph.

Tooth Fairy cuts back

For the second year in a row, according to the Original Tooth Fairy Poll, the average cash gift for a lost tooth has declined to $3.70, down by 43 cents from a year ago.

According to Delta Dental, there are five factors that determine the generosity of the Tooth Fairy:

•    The amount of spare change in the Tooth Fairy’s pocket.
•    The age of a child
•    The Tooth Fairy remembers what parents received when they lost a tooth.
•    The Tooth Fairy keeps a list of a child’s recent behavior
•    The Tooth Fairy keeps track of how many teeth have already been lost.

 

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