Watch Live: Holiday Yule Log

Gas Prices Decrease During the Summer Vacation Season

U.S. families could save big as gas prices start to decrease.
1:30 | 07/14/14

Coming up in the next {{countdown}} {{countdownlbl}}

Coming up next:

{{nextVideo.title}}

{{nextVideo.description}}

Skip to this video now

Now Playing:

{{currentVideo.title}}

More information on this video
Enhanced full screen
Explore related content
Comments
Related Extras
Related Videos
Video Transcript
Transcript for Gas Prices Decrease During the Summer Vacation Season
gas prices. Good news for your wallet. A big drop in prices after a spike at the start of the summer. The timing is good. Rebecca Jarvis is in Chicago with this story. Good morning, Rebecca. Reporter: Hi, robin. Good morning. It's relief this Monday morning for drivers all across the country. Prices in the last week have dropped about a nickel. And you're seeing the national average this morning $3.61. As prices have been really falling since spiking earlier this summer. One of the big reasons is that oil prices have been dropping. Earlier on, mid may, we started to see prices go above $100 a barrel on all of the tension in Iraq. It did not end up hitting oil supplied. Oil prices have been dropping. In 13 states, Americans are paying less than $3.50 a gallon. That's great news. What could drive prices back up? All the news you have been hearing this morning. That conflict in the middle east. If gnat does flow over into oil supplies, that could certainly hit prices and also the hurricane season is a big issue because that can five up gasoline prices as well. We have to remember that. Have a good time there in Chicago. We're going to turn to a

This transcript has been automatically generated and may not be 100% accurate.

{"id":24548388,"title":"Gas Prices Decrease During the Summer Vacation Season","duration":"1:30","description":"U.S. families could save big as gas prices start to decrease.","section":"GMA","mediaType":"Default"}