Gas Prices Crash 46 Cents, Expected To Fall Further
A gas prices crash has led to gas prices falling 46 cents over the past two months, and experts say the gas prices crash could cause gas prices to fall even further. Although the national average is 8 cents higher than it was one year ago, the gas prices crash has caused gas prices to crash steadily.
"This has been a true price crash," Trilby Lundberg, publisher of the Lundberg survey, which released the news of the gas prices crash on Sunday, told CNN. "This crash began back when refining problems around the country were being fixed, one after the other, at the same time that our seasonal gasoline demand was shrinking."
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The gas prices crash has the national gas average at $3.38, and the gas prices crash has gas prices down almost 10 cents in the past week alone. The gas prices crash is a result of several factors, but Lundberg said the gas prices crash will likely continue to make it cheaper to fill up your car.
One year ago, before the gas prices crash began, the national average was $3.29 per gallon, according to GasBuddy. Gas prices then started to increase, and as recent as a month ago, even in the midst of the gas prices crash, gas prices were $3.48 on average. Then, results from the gas prices crash really started to be seen.
One week ago, the national average for gas prices was $3.39, and this morning, the gas prices crash has gas prices down to $3.37.
The gas prices crash has the cheapest gas in the country, in Missouri, down to $3.04. Even in New York, where gas has traditionally been some of the most expensive in the country prior to the gas prices crash, is averaging $3.78, with some gas stations selling at the national average.
"Somewhat lower crude oil prices, refinery problems being reduced and resolved one after the other and demand coming down as it always does in the winter combined to create this drop," she told Businessweek. "I'm expecting further drops at the pump, maybe as much as another dime."
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