Gas prices will soon drop to their lowest level of the year.
By Monday, the national average should fall below the $3.2775 a gallon drivers were paying on Jan. 1, according to analysts. The drop is a present for those planning to hit the road during what is expected to be the busiest Christmas travel season in six years.
Still, it’s more like a stocking stuffer. That’s because for the second straight year, Americans will spend a record amount on gasoline. The government estimates that gas averaged $3.63 a gallon this year, 10 cents above the record set a year ago.
Drivers can only hope that forecasts for lower prices next year come true.
A combination of high oil prices and supply shortages caused by refinery and pipeline problems kept gas prices elevated for most of the year. The national average hit a high of $3.94 a gallon in early April and was around $3.87 in September.
Prices have fallen in most areas since then as supplies got replenished and refiners switched to cheaper winter blends of fuel. However, New York and New Jersey saw temporary spikes in November due to Superstorm Sandy.
Californians continue to see some of the highest prices in the U.S. But they’re probably relieved to be paying an average of $3.59 a gallon just two months after a refinery fire and pipeline shutdown sent prices soaring close to $5.
The nation’s lowest prices are found mostly in the lower Midwest and parts of the South. Missouri is closest to cracking the $3 level, with its average price of $3.01.
More Related Stories
- Mississippi could begin prosecuting women for miscarriages
- Teenage girl claims she was beaten up for looking like Taylor Swift
- UK Military: London attack victim was a "model soldier"
- Billionaire hedge funder: Babies, breast-feeding "kill" focus, keep women from succeeding
- "Bookless library" set to open in Texas
- 2 more arrested in London attacks
- Glenn Beck: CNN interview with atheist tornado survivor was a setup!
- Incoming BBC news director on journalism gender gap: "We can do better"
- Illegal construction, shoddy materials at fault in Bangladesh factory disaster
- Ahead of Obama's speech, U.S. acknowledges four American drone killings
- Must-see morning clip: Bill O'Reilly visits "The Daily Show"
- Lawsuit alleges anti-gay hiring practices at ExxonMobil
- Boy Scouts poised to vote, still greatly divided on gay youth
- House supporters of KXL received $56m from fossil fuel industry
- 80-year-old becomes oldest to climb Mount Everest
- Before FBI shooting man implicated self, Tsarnaev in triple murder
- Paul McCartney backs Pussy Riot
- UK emergency committee convenes after attack
- Brave scout leader tried to reason with London attackers
- If Alex Pareene were a cable news executive...
- El Salvador court delays ruling on abortion case while woman's life hangs in the balance
Featured Slide Shows
The week in 10 picsclose X
- 1 of 11
Credit: AP/LM Otero
Credit: AP/Matt Rourke
Credit: AP/Jenny Aicher
Credit: AP/Molly Riley
Credit: AP/J. Scott Applewhite
Credit: AP/Carolyn Kaster
Credit: AP/Las Vegas Review-Journal/Jeff Scheid
Credit: AP/NASA/Chris Hadfield
Credit: AP/Jacquelyn Martin
Credit: AP/The Duluth News-Tribune/Clint Austin
Recent Slide Shows
- 1 of 11