Aug 18, 2020

AAA Kansas: Gas prices may have peaked, if no supply interruptions

Posted Aug 18, 2020 2:53 PM

By NICK GOSNELL
Hutch Post

HUTCHINSON — You may be able to hold on to a few more coins at the pump in the coming days, according to AAA Kansas.

"Recent trends have us thinking that gas prices may have peaked this year," said Shawn Steward with AAA Kansas. "The national average has pushed only as high as $2.20 a gallon, the Kansas average top end was $1.98. That happened about a month ago. In the last four weeks, motorists have been seeing the gas price average slowly decrease."

It looks like there is still more gas in the system than people are using.

"Our extremely healthy supply amid lower seasonal demand right now is paving the way for one of the lowest annual gas price averages this decade," Steward said. "There's a good chance that we've likely seen gas prices peak for 2020, barring any major hurricanes or any other disruptions in the supply."

In Kansas, prices are below $2 a gallon in most places.

"At $1.95 a gallon, Kansas ranks as the 10th cheapest in the U.S.," Steward said.

As we get closer to fall, prices typically drop once refineries switch from summer to winter blends of gasoline as the winter blend is less expensive to refine.