AAA: Travel, gas prices down

PANAMA CITY, FL — Gasoline prices are expected to move lower, even as the Labor Day holiday approaches, according to AAA South Club.

“We can expect to see retail gasoline prices decline by a nominal amount of one or two cents a gallon from now through the labor day weekend,” AAA Auto Club South spokesman Gregg Laskoski said Tuesday.

Prices are expected to remain about the same or diminish slightly for the next week as demand remains low and reserves high.

Fewer people will travel. Nationwide, 13.3 percent fewer travelers are expected to hit the road for a Labor-Day trip of at least 50 miles from thier home this year over last, the AAA reports. For Florida, Georgia and Tennessee,a22percentdecrease is anticipated. About 1.9 million Floridians are expected to travel this weekend.

Gasoline demand last week averaged 9.1 million barrels per day, down 0.1 percent from the week before and down 3.2 percent, from one year ago. The supply and demand means retail gasoline will edge lower, Laskoski said.

Crude oil had been on the rise in August but recently fell from highs in the low $70s per barrel to $68.75 per barrel on Tuesday afternoon, according to the New York Mercantile Exchange.

Gasoline prices Monday and Tuesday averaged about $2.53 in the Panama City area, according to floridastategasprices.com, a site where residents submit prices online. Statewide, prices were about $2.58 on Monday and Tuesday, according to AAA’s Daily Fuel Gauge Report.