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Alison Kosik
New York

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Alison Kosik
New York

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Drivers are suffering from record-high prices at the pump this labor day... But analysts say relief should be coming... Soon. Alison Kosik has more.
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DRIVERS ARE SUFFERING FROM STICKER SHOCK AT THE GAS PUMP THIS HOLIDAY WEEKEND.
BUT DON'T WORRY-- OUR WALLETS MAY BE IN FOR A LITTLE RELIEF.
TRIPLE A SAYS IN AUGUST-- WE SAW THE NATIONAL AVERAGE PRICE FOR A GALLON OF GAS SPIKE CLOSE TO TEN PERCENT.
THAT'S THE BIGGEST MONTHLY GAIN IN MORE THAN THREE YEARS.
AND WE'RE PAYING ALMOST 20 CENTS MORE THAN THIS TIME LAST YEAR.
THE CULPRIT? YOU CAN BLAME HURRICANE ISAAC.
THE STORM DIDN'T DAMAGE ANY REFINERIES OR RIGS IN THE GULF.
BUT MOST OF THEM HAD TO BE SHUT DOWN IN PREPARATION.
ON TOP OF THE HURRICANE-- RECENT FIRES AT OIL REFINERIES IN CALIFORNIA AND VENEZUELA ALSO HURT SUPPLY-- DRIVING UP OIL AND GAS PRICES.
BUT DON'T TRADE IN YOUR CAR KEYS FOR A BIKE HELMET JUST YET.
ANALYSTS SAY RELIEF IS IN SIGHT.
MOST OF THE GULF COAST REFINERIES ARE GEARING BACK UP.
AND WE'LL SOON SWITCH FROM THE SUMMER BLEND TO THE CHEAPER WINTER BLEND GASOLINE.
SO WE SHOULD BE ABLE TO FILL UP-- FOR A BIT LESS CASH-- VERY SOON.
ONE ANALYST WE SPOKE TO EVEN SAID GAS PRICES COULD FALL TO $3.25 A GALLON BY DECEMBER.
THAT'S A NEARLY 60-CENT DROP FROM TODAY... LET'S HOPE HE'S RIGHT!
I'M ALISON KOSIK IN NEW YORK.
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