DALLAS — The United States is heading toward the Labor Day holiday with the lowest gasoline pump prices for this time of year since 2010.
Sliding demand, the return of refinery units from Canada to Texas and the absence of hurricanes in the Atlantic Ocean have helped swell stockpiles to the highest seasonal level in three years and pushed prices down every day this month. Gasoline may drop another 0.5 cent per day in coming weeks, said Michael Green, a spokesman for AAA, the largest U.S. motoring group.
"There remains enough supply for the demand," Green said in a phone interview from Washington. "Summer trips are ending, and many people are headed back to school. You will get a little spurt around Labor Day but not enough to change things."
Gasoline is down about 9 cents this month, compared with a 33-cent jump last August, when the largest refinery in Venezuela was shut after a fire and Hurricane Isaac closed refineries along the Gulf Coast.
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