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Tuesday
Oct042011

Gasoline Prices Keep Going Down; National Average Now $3.43

Jupiterimages/Thinkstock(NEW YORK) -- During the spring, prices at the pump had reached $4 a gallon but things have gone steadily downhill since then even if the drop hasn't been as sharp as motorists would like.

Americans have actually seen a steeper than usual decline over the past two weeks with gas prices down as much as 18 cents a gallon during that time span.

On average, the cost is now $3.43 a gallon for unleaded regular, with folks on the Gulf Coast enjoying the biggest breaks and people in California paying the most at $3.84 a gallon.

The three factors driving down gasoline prices are slow economic growth, the end of the peak summer driving season and a more stabilized situation in Libya.

Industry analysts believe prices could keep falling a while longer but they still won't get near the $2.73 a gallon Americans were paying one year ago this month.

Copyright 2011 ABC News Radio

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