Prices of Gas Drop to Lower than $3 for a Gallon.
All drivers in the US have a reason to rejoice. Prices of gas have gone below$3 at quite a number of places.
This is not a phenomenon that can be seen every day. As per the website Gas Buddy. com, which tracks the price of gas in different areas, the lowest price seen was 2.88 a gallon.
At this point of time Missouri offers the lowest average gas price in the country with 3.04 a gallon. The highest price is spotted in Hawaii with the average price for regular gas at 4.18 a gallon.
Soon people could be ready for road trips with the reduced prices at a four year low. The reason for the drop is mostly attributed to the boost in oil supplies in North American and Middle East with the cooled down economies in China and European countries, as the struggling economies cut down on the demand.
Michael Lynch the President of Strategic Energy & Economic Research in Winchester mentioned that the steady supplies have been building up the stocks allowing a drop in the prices just as the winter months are about to set in.
Michael Green, spokesman for Florida-based AAA said, "Early this winter, we could see gas prices go near $3 a gallon, but the national average should end up around $3.10."
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