Gas Prices Expected to Drop Below $3.00 a Gallon
Analysts predict that gas prices will soon drop below $3.00 a gallon, a first in four years.
According to AAA and GasBuddy, lower prices at the pump are expected due to a decrease in oil prices, which have dropped below $60 a barrel.
- National average gas price: $3.057 a gallon (down 5 cents)
- Previous week's average: $3.110 a gallon
- Previous month's average: $3.186 a gallon
- Same time last year: $3.203 a gallon
AAA attributes the price drop to lower gasoline demand after the summer travel season and the introduction of cheaper winter-blend gasoline.
Industry analysts predict a continued downward trend in gas prices in the coming weeks.
Author's summary: Gas prices may drop below $3 soon.