Maybe I was wrong after all… most major metropolitan centers are now enjoying gasoline prices of $2.30/gal, an “average gas price drop of 11 cents a gallon in a week”:
In many metro areas, prices averaged less than $2.30 Monday, according to AAA. And only in Hawaii was the statewide average more than $3.
AAA reported a U.S. average Monday of $2.624 per gallon for unleaded regular, down 1.6 cents over the weekend. Hawaii, burdened by high shipping and distribution costs, averaged $3.284, down 1.1 cents.
High prices of spring and summer attracted more imported gasoline than usual, contributing to the above-average supplies that now are keeping prices down. ‘We had record levels of gasoline imports for a while, more than 1 million barrels a day just of gasoline,’ says Neil Gamson, analyst at the EIA.
Falling prices are cheering gasoline retailers as much as motorists.
Good news for the economy, good news for motorists, and good news all around. Let’s hope they stay at $2/gal for the forseeable future.