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Relief at the Pump: Gas Prices Near 2-Year Low

fox8.com

By Chris Isidore

NEW YORK (CNNMoney) — Consumers are getting some relief at the gas pump, particularly in the middle of the country, as prices could soon fall to levels not achieved since early 2011.

The average price of a gallon of self-serve regular gas has fallen steadily every day for almost four weeks. Tuesday’s $3.24 a gallon reading from the AAA was the lowest price so far in 2012 and only three cents away from the price last reached in February 2011.

Tom Kloza, chief analyst at the Oil Price Information Service, said that he thinks the chances are good that prices will reach that nearly two-year low, based on what he’s seeing in the wholesale price market. OPIS compiles prices data from 120,000 stations nationwide for AAA. He said the national average is partly being driven down by better fuel economy, continued high unemployment and an increase…

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About Nicholas Maithya

I am a writer focussing on disruptive technology, Fintech, Big Data and Internet of Things, Online Marketing trends, and investments. When I am not writing about these, I am probably in the gym working out, out and about with family, watching the news (basically business/technology) or soccer. That's why I do sometimes cover soccer-related stories.

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