Have you noticed a difference at the pump? Local Echo Park gas prices have fallen during the summer following a national trend as the country prepares to enter the fall and winter seasons.
According to a Bloomberg report from September 10, 2014, which gathered much of its information from the AAA and its Washington spokesman Michael Green, the downward trend is due to:
- An increase in domestic crude, and decrease in imports from the Gulf Coast Region
- Record oil production
- A lower-than-expected demand during the summer months
- The regulated winter blend being less expensive to produce
“Gasoline will drop another 10 to 20 cents a gallon by the end of October as retailers switch to cheaper winter-blend fuel,” said Michael Green from the AAA.