With oil prices stabalizing internationally, national gas prices are steadily falling.
Gas was higher than the current national average of $3.42 per gallon a month ago by 24 cents, and 7 cents higher last week, which also marked the first time the average was under $3.50 per gallon. The cost of diesel is also dropping. At $3.82, the price per gallon is still 8 cents less than it was last month.
Although prices are dropping, the national average is still 70 cents hihger than it was this time last year. A continually weakening global economy is cited as the cause for the decline in costs, as is Europeans and Americans spending less money.
Another contributor to the falling gas prices is heightened oil production in the key locations of Angola and Nigeria.
– By: Alexandra Koken