Gasoline prices across the United States are at their lowest levels since early 2011, the AAA motor club said Monday.
The national average is $3.04 per gallon, and AAA predicts it could fall below $3 per gallon as early as this week. Motorists in 17 states already pay less than that — Virginia drivers, for example, are paying $2.82 per gallon on average, and Maryland is at $2.99.
“Gas prices have recently declined much farther than the market anticipated, and that adds up to positive news for motorists,” said John Townsend, public and government affairs manager with AAA’s Mid-Atlantic region.
The decline stems from plummeting oil prices. West Texas Intermediate prices, a benchmark for U.S. crude oil, fell below $80 per barrel for the first time in two years, while Brent prices have come crashing down from $115 per barrel to just under $85 per barrel.
The falling oil prices have translated into a 10 percent drop in pump prices since Labor Day, when gas was fetching $3.44 per gallon.
