"WASHINGTON -- Think of it as Christmas in August. Gasoline prices are expected to drop sharply this month and might be approaching $2 a gallon in much of the country by the time winter’s chill arrives.

Normally, pump prices are flat or even up a bit in August as Americans finish up the summer holidays with a roadtrip before sending the kids back to school. This year, however, the AAA Motor Club anticipates a drop of 15 cents or more in coming weeks, on top of what already has been a sharp drop from this year’s peak.

'In many ways it’s a very simple prediction, based purely on the (price) decline in crude oil,' said Michael Green, an AAA spokesman."

Kevin G. Hall reports for McClatchy August 4, 2015. [2]

SEE ALSO:

"Fire Sale on Stuff That Burns: Oil, Natural Gas, Coal Down" (AP) [3]

"Oil CEOs’ Grim Outlook Rubs Off on Speculators Fleeing Market" (Bloomberg) [4]

"The Oil Crash Has Caused a $1.3 Trillion Wipeout" (Bloomberg) [5]