Gas Prices Crash 46 Cents, Expected To Fall Further

By Amir Khan on December 10, 2012 7:29 AM EST

Gas Prices
A gas prices crash has made it much cheaper to fill up your car (Photo: Creative Commons)

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."

Like Us on Facebook

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."

© 2012 iScience Times All rights reserved. Do not reproduce without permission.

Join the Conversation

Sponsored From Around the Web

    ZergNet
Follow iScience Times
us on facebook RSS
 
us on google
 
Most Popular
INSIDE iScience Times
Do Dolphins Get High? BBC Cameras Catch Dolphins Chewing On Pufferfish Toxins
Do Dolphins Get High? BBC Cameras Catch Dolphins Chewing On Pufferfish Toxins
How Many Ways Can You Tie A Tie?
How Many Ways Can You Tie A Tie?
Ribbon Of Charged Particles At Solar System's Edge Acts Like A Wind Sock For Interstellar Magnetism
Ribbon Of Charged Particles At Solar System's Edge Acts Like A Wind Sock For Interstellar Magnetism
How to Turn Your Tap Water Faucet  Into a Coffee Spout [VIDEO]
How to Turn Your Tap Water Faucet Into a Coffee Spout [VIDEO]
Coolest Science Photos Of 2013: From Blobfish To Two-Headed Shark, Comet ISON To Mars Selfie
Coolest Science Photos Of 2013: From Blobfish To Two-Headed Shark, Comet ISON To Mars Selfie
This Is A Scientifically-Proven Rock-Paper-Scissors Winning Strategy (But If Your Opponent Uses It Too, It's A Draw)
This Is A Scientifically-Proven Rock-Paper-Scissors Winning Strategy (But If Your Opponent Uses It Too, It's A Draw)