Gas prices lower, but too early to say what fall and winter will bring

Minnesotans going into the Labor Day weekend are seeing gasoline prices about a dollar-a-gallon lower than the all-time peak in mid-June.  Triple-A’s Meredith Mitts says the global energy situation has stabilized somewhat despite the war in Ukraine, plus fear of global recession put the brakes on demand, resulting in lower oil prices:

“People were starting to drive less.  The inflation got too high and was starting to hit the wallets… a little bit too hard.”

And what about gasoline prices going into the fall and winter?   Mitts says the biggest concern is hurricane season:

“The storms that can hit the Gulf would affect oil production in some of the refineries, and that could impact what our gas prices look like.”