Gas Prices Below $3 and Falling

Friday, October 24, 2008 12:31

CNN reported today that gas prices are dropping below the $3 mark, giving American consumers worried about conserving fuel some much needed relief. This information is based on the Daily Fuel Gauge Report released today by the American Automobile Association (AAA).

The national gas price average is now 2.781 a gallon, down 4.1 cents from yesterday and down $1.33 from the highest price reported by the AAA in July, which was $4.114.

The cause for these declining gas prices may not be what you think; Hybrid cars, conservational green environmentalists and the war in Iraq have nothing to do with it. Apparently it’s because Americans have simply decided to drive less, and use less fuel. What better way to increase gas mileage than to leave your car in the driveway?

Just 2 months ago in August people drove over 5.5% less than July, making it the sharpest decrease in miles traveled since the U.S. gov’t started compiling data omn how people drive. Gas consumption for the past four weeks averaged 8.8 million barrels a day, or 4.3% lower, according to the U.S. Department of Energy.