Gas prices dropped for the fourth straight week, falling to the lowest level in six weeks, the U.S. Energy Department said Monday. The average price for regular gas is now $2.53 a gallon, down from $4.11 a year ago.
The drop in gas prices could be caused by the high unemployment level, meaning fewer people are driving to and from work and not as many Americans are taking vacations, Reuters reports.
Current gas prices are the lowest since June 1, and are falling because crude oil prices are also dropping. Oil is $59.69 a barrel right now.
Looking at major cities, Los Angeles has the most expensive gas, at $2.91 a gallon. Houston has the cheapest gas, at $2.32 a gallon.
If gas prices keep going down, it could spur more Americans to travel and take vacations, especially if they were hesitant about the gas prices.
Most drivers are loving the falling gas prices, but can only hope they keep dropping, as the economy is forcing consumers to watch their money.
About the Author
autoloan
This author has not added a biography. Meanwhile autoloan has contributed 2793 posts.
Click here
to view them.
