Gas Prices Drop To Four Year Low

If you haven’t noticed lately, gas prices are low. In fact, they’re so low, we haven’t seen prices like this for four years. Considering how expensive it’s been to fill up tanks for the last four years, this kind of relief is very welcome. But there’s plenty of speculation about whether it will last.

What’s also low are Ford Mustang sales.

According to AAA, nationally the average price for a gallon of gas on March 13 is $3.079. While that’s only a penny cheaper than the day before and four cents cheaper than a week ago, exactly a year ago the average was $3.396.

If you live in California, you might be wondering where all the cheap prices are. The average in that state for a gallon is $4.74, making it yet again the most expensive market in the nation. Meanwhile, Mississippi is the cheapest at $2.64 a gallon.

According to a CNN report, the price of oil in West Texas Intermediate, sits at $66.71 which curiously is 11 percent cheaper than the day after President Trump was sworn into office for a second time.

It can take some time for gas prices to come down, but it appears the downward trend will continue as oil prices also tank. However, there are fears that if the price of oil dips below $60 a barrel, that might result in a cut in production, causing prices to start climbing again.

The price of diesel is also down with the national average sitting at $3.619 a gallon versus $4.039 a year ago. That’s great news for truckers and other commercial drivers.

But some fear tariffs could cause fuel prices to jump. Another concern is summer blend gasoline will trigger a slight increase in cost, which in turn will be passed on to consumers.

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