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Gas prices down, expected to go lower

2 years 3 months 3 days ago October 14, 2014 Oct 14, 2014 Tuesday, October 14 2014 October 14, 2014 12:14 PM in News
Source: ABC News
By: Brock Sues

BATON ROUGE - Motorists who plan on taking a fall road trip to enjoy the now crisp weather have some good news as gas prices across the nation are at their lowest levels since February.

According petroleum analysts with GasBuddy.com, nearly one third of all stations in the country are selling a gallon of gas for less than $3 with the national average sitting at $3.19.

At one point on Monday, the town of Greenville, Michigan had the lowest prices at the pump in the U.S. with a gallon costing $2.55. Residents of the area said it was the lowest they have seen prices in a long time.

Analysts say the price plunge is due to a number of factors including the greatest increase in domestic oil production since the mid-80s, the end of summer travel season and a decidedly uneventful hurricane season.

The best part for consumers is that nationwide gas prices are expected to drop another 20 cents per gallons in November, according to ABC News in Washington.

 

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