AAA sees US average gasoline price dipping to around $2.70

By The Associated PressMarketsAssociated Press

Steady oil prices and the end of strong summer demand should start pushing gasoline prices down.

The auto club AAA predicts that the national average will drop 14 cents to $2.70 a gallon this fall.

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The current average of $2.84 is up 46 cents from a year ago, but down from the peak national average of $2.96 a gallon in May. AAA says motorists in the West and in Pennsylvania and Connecticut pay even more — over $3.

Relief could be coming. Benchmark U.S. crude is around $69 a barrel — that's up sharply from a year ago but down $5 a barrel since early July.

Also, refineries are expected to switch in mid-September to winter-blend gasolines, which are cheaper to produce than summer blends.