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U.S. Average Fuel Price Falls Below $3 Per Gallon
The average price of a gallon of gasoline in the U.S. dropped below $3 over the weekend to $2.98 on Monday, according to the AAA Daily Fuel Gauge Report.
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The average price of a gallon of gasoline in the U.S. dropped below $3 over the weekend to $2.98 on Monday, according to the AAA Daily Fuel Gauge Report.
It was the first time the average was under $3 since mid-December 2010. Prices averaged $3.32 per gallon a month ago and have been below year-earlier levels since July.
AAA notes that prices normally decline in autumn in part because winter blends cost less to make. But global oil supplies continue to outpace consumption, thus driving down prices even more.
Average gasoline prices could fall as much as an additional 15 cents per gallon in the next several weeks, according to AAA.
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