« Fourth Quarter Trading Off to Another Bad Start | Main | Tesla Model S: Elon Musk's Electric Sedan Faster Than Porsche? »

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

Reader Comments

There are no comments for this journal entry. To create a new comment, use the form below.

PostPost a New Comment

Enter your information below to add a new comment.

My response is on my own website »
Author Email (optional):
Author URL (optional):
Some HTML allowed: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <code> <em> <i> <strike> <strong>

ABC News Radio