Gas Prices Continue to Fall

The national average price for a gallon of gas dropped to less than $2.50 Monday. This is the first time in two months gas prices have fallen to this level.

The average price for a gallon of regular gasoline is now $2.499, according to AAA, Wright Express and Oil Price Information Service. That’s 11 cents less than a month ago, and nearly $1.16 below what drivers were paying a year ago, the AP reports.

Analysts say that the drop in gas prices is a result of larger oil supplies and lower demand.

Gas prices are one of the big factors consumers look at when shopping for a vehicle. Low gas prices may cause car shoppers to consider larger, more gas-guzzling vehicles, while high gas prices usually make car shoppers look at hybrids, or more fuel-efficient vehicles.

Chevron gas station

Lower prices at the pump is always welcome news for cash-strapped Americans.


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