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Gas prices are now lower than at this time last year. Could they fall below $3 a gallon in the months ahead?

Economy And Jobs,Gas Prices,Oil,OPEC,European Union,Transportation

From the Center

Gas prices on Thursday were slightly less on average than they did one year ago — with a slim one-cent margin — but experts say there could be cheaper gas in the weeks and month to come.

Thursday’s national average for a gallon of gas was approximately $3.33, AAA said. That’s down from $3.34 this time last year, and significantly lower than the record high of $5.01 a gallon recorded in mid-June.

Six months after drivers were snapping photos of high prices at the pump, gasoline-industry experts say the downward trend is due to a combination of falling crude-oil prices and a drop in driver demand after the traditionally busier summer months.

“We expect gas prices likely are going to continue trending lower,” said AAA spokesman Devin Gladden. It’s possible the national average will fall below the $3-per-gallon mark, but when that happens and for how long it lasts is unclear, he added.

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