Gas Prices Could Head Below $3 Per Gallon

Summer is over and gas prices are drifting lower. Our nation's refineries have started switching back to the less expensive winter blend. AAA says it expects gas prices to fall an additional 10 to 20 percent per gallon by the end of October. Two wild cards could throw a wrench in the works: geopolitics and hurricanes.

Oil prices jump when groups like ISIS threaten oil production in that region of the world. And the Atlantic hurricane season peaks in September and if any areas in the Gulf Coast or refineries on land are hit, it will cause major disruptions to production at the refineries and the prices go up and up.

America's dependence on foreign oil and gas is declining by the day. New discoveries and improved technology have combined to create an oil boom not seen in this country since the 1920s. So, if we can get through September without any major problems, we could see more gas stations dropping their prices below $3 per gallon this fall.