Gas Prices Drop Slightly In July

If you are traveling by car, gas prices had a modest decrease in July. If you are turning on the lights, electric rates stayed the same.

That’s according to AAA.

The decrease in gasoline prices was negligible. In fact, you could find the loose change in savings on the floor of your automobile. Nationally, gas was down to an average of $3.45 per gallon in July. That’s down $0.03 from what it was in June.

“With Tropical Storm Debby drifting up the I-95 corridor to visit the Mid-Atlantic and Northeast, the threat to Gulf Coast oil production and refining is over,” said Andrew Gross, AAA spokesperson. “But tensions in the Middle East and some overseas economic uncertainty may mitigate any drop in oil prices.”

The per gallon price for fuel was expected to have a slight dip this summer. Gas prices and the economy are expected to be big factors in the national election in less than three months.

Electric rates were virtually the same as they were in June.

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