Gas Prices Tumble to Lowest Level in Nearly 4 Years


AAA's predictions of cheap gas for the coming fall season are already being realized. Gas prices across the country are dipping to the lowest levels seen in almost four years.

The average price of a gallon of regular unleaded dropped 18.2 over the last two weeks, bringing the average price to $3.05 nationally, The LA Times reported. That is the lowest average price since December 17, 2010.

The drop in price can be attributed to refineries switching to cheaper winter blends, increased domestic production and a dip in global oil prices. Oil was trading below $80 a barrel Monday, according to the Associated Press. Analysts say the price could drop to $75 a barrel and stay there through to next year.

Last year, the national average fell 28 cents per gallon between Sept. 1 and Dec. 31. This year, gasoline had a headstart. It entered September at its lowest level for the beginning of the month in four years - and the price of crude oil was rapidly heading lower.


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