This news is a change from an expected increase after Christmas. Now they are saying that the average gas price across the US should be around $2.94. This is a whopping 44-cent drop from expectations just a month ago.
The primary cause of this change is that the US is producing larger amounts of gasoline. They expect the savings to continue for a while.
Gas prices have fallen for 49 days straight. On today (Thursday), the average price of gas in the US in just $2.92, which is the lowest since December 2010. Global prices for oil are expected to be about $83 per barrel.
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Source: http://news.yahoo.com/govt-tells-us-drivers-used-cheap-gas-050813195--finance.html
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Photo Credit: Unchanged; from https://www.flickr.com/photos/jeepersmedia/14319902599
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Keywords: gas prices, lower, oil