Gas prices expected to peak

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Updated: 9/03/2012 11:38 pm
JACKSONVILLE Fla.-- Those Labor Day pains you've felt at the pump are about to subside. As the week goes on, high gas prices are expected to peak and then drop.

After tropical storm Isaac shut down gulf refineries, gas prices rose, frustrating Labor Day travelers everywhere. 

"I have a '99 Chevy Suburban with a 42-gallon gas tank," said Kevin Anderson, who was on his way to Tallahasse. "It's going to be $150 to fill it up so that's 1/4 of my paycheck."

"We're definitely seeing the highest gas prices that motorists ever paid on a labor day weekend," said AAA spokesman Mark Jenkins. 

Right now the national average is $3.83 and prices are expected to continue climbing throughout the week. But according to AAA, prices at the pump will sweeten in September.

"We're looking at gas prices to hopefully peak out by the end of the week," said Jenkins. 

AAA told Action News there are two factors driving the relief; demand for oil will drop as travelers get off the major highways and return to their weekly commutes; and supply will grow as refineries closed by Isaac open back up.

"Supply is going to rise and prices are going to drop," said Jenkins. 

AAA expects the drop to begin at the end of the week, and once it starts, they say it will be gradual. 


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