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AAA: Gas Prices Continue To Drop
Updated August 1, 2014 7:33 AM | Filed under: Business
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(UNDATED) - AAA Hoosier Motor Club says the national average price of gas tumbled in July. They say it's the biggest July drop in six years.

Average gas prices fell 30 days in July.

The national average price of gas is $3.52. In Indiana, the average is $3.48 per gallon.

AAA says record high refinery production and ample supplies are behind the steady price decline. This comes despite conflict across the middle east. AAA expects gas prices to continue to fall in August.

Gas prices in August have dropped for three of the past five years.

Consumers are now paying the lowest gas prices since mid March.

July and August are typically the busiest driving months of the year.

AAA says one factor that could interfere with the decline in gas prices, hurricanes which typically hit in August and can disrupt oil production.



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