NEW YORK (AP) – The sight is so surprising that Americans are sharing photos of it, along with all those cute Halloween costumes, sweeping vistas and special meals: The gas station sign, with a price under $3 a gallon.
“It’s stunning what’s happening here,” says Tom Kloza, chief oil analyst at the Oil Price Information Service. “I’m a little bit shocked.”
The national average price of gasoline has fallen 33 cents in October, landing Friday at $3.00, according to AAA, and will soon dip under $3 for the first time in four years.
When the national average crossed above $3 a gallon in December of 2010, drivers weren’t sure they’d ever see $2.99 again. Global demand for oil and gasoline was rising as people in developing countries bought cars by the tens of millions and turmoil was brewing in the oil-rich Middle East.
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