Gas Prices Fall to 3-Year Low
Gas prices have fallen to a 3-year low, according to data collected by the AAA. The national average for a gallon of gas is now $2.58 a gallon.
The price of gas has fallen for 42 consecutive days. It hasn't increased since September 16--just days after a series of hurricanes battered the Gulf coast.
Overall, gas prices have fallen 37% from the record high of $4.11 this summer. The drop is attributed to lower crude oil prices and reduced consumer demand.
The price of crude oil hit a 17-month low on Monday, falling to $63 a barrel. And recent high gas prices have kept Americans off the roadways. According to a report by the U.S. Department of Energy, Americans are driving 5.6% fewer miles than last year.
Average gas prices in California, Alaska, and Hawaii remain above $3 a gallon.
Some major American cities with the lowest gas prices are Kansas City, MO, and Cincinnati, OH, at just over $2 a gallon.
Just months after reports of fuel theft dominated the headlines, gas prices in some areas have fallen below $2 a gallon. According to GasBuddy.com, you can find gasoline for $1.98 per gallon in Corpus Christi, TX, and $1.99 a gallon in Des Moines, IA.