U.S. Gasoline Price to Fall Below $3 for First Time Since 2010

By Stephen Cunningham  Oct 31, 2014 5:48 PM GMT+0200  

The national average price of gasoline will drop below $3 a gallon tomorrow for the first time since December 2010, Heathrow, Florida-based motoring group AAA said today in a statement.

Sliding prices are seen saving the typical consumer $500 a year and are coming just in time to boost spending during the holiday shopping season, according to analysts including IHS Inc. The bonus at the pumps represents the biggest benefit to consumers to date from a record boom in domestic oil production that has contributed to a global crude glut and helped bring down international prices.

link