At the beginning of the year, gas prices were surging at an usually high clip.
But the summer has now come and gone and in hindsight, gas prices were quite tame.
“As the Labour Day weekend approaches, the U.S. national average retail price for regular gasoline has fallen 13 cents per gallon below the apparent summer peak of $US3.68 per gallon, reached on July 22,” noted the Energy Information Association. “Last Monday, August 26, it was $US3.55 per gallon, despite an increase in crude oil prices since early July. At $US3.55 per gallon, the average U.S. retail price for regular gasoline is 19 cents below last year’s price at that time and 3 cents below the level in 2011 leading into the holiday weekend.”
“According to the American Automobile Association, gasoline prices were $US3.59 per gallon August 29.”
Check out the chart: