Gas prices in some areas drop to lowest level since 2011
“Gas prices across many communities are now the lowest they’ve been since the Libyan crisis in February of 2011. Nearly 15 percent of all stations in the United States are now selling gasoline under the psychologically important $3 per gallon level.”
Those were GasBuddy.com Senior Petroleum Analyst Patrick DeHaan’s thoughts on the continuing sliding of pump prices.
Average retail gasoline prices in Iowa fell 7.5 cents per gallon last week, averaging $3.02 per gallon Nov. 10, according to GasBuddy’s daily survey of gas outlets in Iowa.
Including those changes, Iowa gas prices Nov. 10 were 28.6 cents per gallon lower than the same day one year ago and a quarter per gallon lower than a month ago.
“Last year on this date (Nov. 10) saw just one percent of stations selling under that level ($3 per gallon),” DeHaan continued. “Prices nationally could drop to as little as $3.05 per gallon by Christmas.”
DeHaan said Montana, Ohio and Indiana all saw drops of 15 cents per gallon last week. Several stations in Tulsa, Okla., are selling the cheapest gas at $2.45 per gallon, DeHaan said.
Meanwhile, the national gasoline price average decreased 5.4 cents per gallon last week to $3.20 per gallon. The national average has decreased 17.4 cents per gallon during the last month and stands 26.7 cents per gallon lower than this day one year ago.