Motorists will get some relief at the pump this fall, according to AAA. The motor club says that drivers may reap savings of more than 25 cents a gallon compared to summertime prices.
AAA forecasts that national gas prices will average $2.40 in the autumn, allowing Americans to pump the brakes on fuel expenses for a while.
AAA: Here’s why you’ll keep more of your gas money this fall
The main reason for the dip is because of America’s crude inventory, which is currently at 438.9 million barrels, 31.5 billion barrels higher than the previous year. Also, the “glut of oil” production being encouraged by the Organization of the Petroleum Exporting Countries (OPEC) and its partners, AAA says.
“AAA predicts that fall gasoline prices will be significantly less expensive than this summer with motorists finding savings in every market across the country,” AAA spokeswoman Jeanette Casselano says in a news release. “Many factors are driving this decrease, but the low price of crude oil is chief among them.”
Fall crude prices are expected to fall between $50 to $60 per barrel compared to $60 to $75 a year ago, AAA says.
Along with cheaper crude prices, AAA says that what you pay at the pump will continue to trend downward because of two other reasons:
- Time of year: AAA says an expected post-Labor Day drop-off in gas demand will cause prices to fall as the busy driving season comes to an end.
- The switch to winter-blend gas: As cooler temperatures roll in, motorists will change to summer-blend to winter-blend gasoline, which is cheaper to produce.
If you’re serious about keeping more in your pocket this fall, here are some money-saving tips, courtesy of AAA:
- Stick to your vehicle’s recommended maintenance schedule: Cars that aren’t kept up are less fuel efficient and cost you more money in the end, AAA says. If you don’t know the maintenance schedule for your vehicle check your manual in the glove box.
- Always keep your tires in good condition: That includes buying new ones if you need them and keeping them at the required inflation. For inflation specifications, AAA says, “Use the figures on the tire information decal on the driver’s door jamb — not the one molded into the tire’s sidewall.”
- Use the right oil: When getting an oil change, use the “energy-conserving” variety, AAA says. If your vehicle has a built-in maintenance notification system that tells you when it’s time for an oil change, heed its advice.
In addition to maintaining your vehicle, you can save by going to the right pumps. Here’s why you might want to buy gas from a station on this list.