BALTIMORE, MD—American motorists are enjoying continued relief at the pump, as the national average price for gasoline has fallen to $2.90 per gallon, reaching a new multi-year low, according to data released on Monday by GasBuddy.
The average price has dropped 5.0 cents over the past week and is down 17.6 cents from a month ago. Significantly, the current average is also 7.3 cents per gallon lower than it was one year ago. The average price for diesel has followed a similar trend, declining 5.1 cents in the last week to stand at $3.671 per gallon.
Patrick De Haan, head of petroleum analysis at GasBuddy, stated that the decline has put gas prices at “multi-year lows heading into Christmas.” He noted that in the cheapest cities, averages have dipped into the low-$2 range, with a few stations still offering gasoline under $2 per gallon. De Haan predicted that “Barring any major disruptions, prices are likely to stay relatively low into the new year.”…