A man pumps gas at an Exxon gas station in Waltham, Mass. in a 2008 file photo(Photo: Lisa Poole AP)
Just in time for election day, gas prices are falling -- a lot.
The
price of a gallon of self-serve regular averaged $3.492 on Monday
across the country, the Energy Information Administration reported
Monday in its weekly survey. That's still fairly pricey, but it's a full
7.6 cents cheaper than it was a week ago. Then, it fell a whopping 11.9
cents from the week before that..
That's almost a drop of two dimes in two weeks.
Before
the talk of an administration plot to swing the election comes to full
boil, consider that the serious problems with gasoline distribution in
the Northeast also puts a crimp on demand. Plus, gas demand usually
isn't that high this time of year anyway, with summer now long gone and
the Thanksgiving travel weekend still two weeks away.
Gas prices
fell in every major sector during the week, especially California, where
pump prices were down 17 cents a gallon. Even at that, they were still
easily the highest in the nation at an average of $3.996 a gallon.
In
storm-ravaged New England, they were down about three cents to $3.714
and in the central Atlantic states, down by the same amount to $3.677.
The cheapest gas in the nation is along the Gulf Coast at $3.271 a
gallon, down about a nickel from the week before.
USA Today