Gas Prices Continue to Decline
Video by Shaleeka Powell
Gasoline prices have been declining across the country and will continue to do so, according to a recent report by the American Automobile Association.
According to the data from the “Daily Fuel Gauge Report” from the American Automobile Association, the average price for regular gasoline was $3.10 per gallon on Monday, down one cent from Sunday and ten cents from the previous week. In the past month, the average price has gone down 25 cents. This is the lowest gas price since February 1, 2011.
“U.S. consumers are spending about $200 million less per day on gas than at the middle of the summer,” said the AAA on Twitter today.
Experts say the gas price fall is due to fewer demands for oil from China and more production of oil from the United States, said Hari Sreenivasan to PBS NewsHour.
How long will this decline last?
According to CNBC, some experts say the price of gas will continue falling for “months” and is expected to stay low at the current range.
Tom Kloza, chief oil analyst at the Oil Price Information Service and Gasbuddy.com, says the national average could fall under $3 a gallon before the year ends, according to the Associated Press.
