Gas Prices Drop To 6-Month Low
BALTIMORE (WJZ)– Finally, some positive news when it comes to gas prices. This weekend, they hit a six-month low.
Adam May reports prices could fall even more, but don’t get used to it.
Drivers give it a thumbs up. Gas prices fell under $3.50 a gallon– the lowest since last winter. It will be a big difference for people like Scott Melton.
“I own a small business so commuting back and forth each day, I spend $800-900 a month,” Melton said.
He’s hoping for a bigger drop, and AAA says it’s on the way.
“Many analysts are predicting that gas will drop to perhaps $3 a gallon by the end of this quarter,” AAA spokeswoman Ragina Averella said.
That’s because refineries are switching to cheaper winter blends, and the economy continues recovering at a slow pace.
“Still feel high to me,” Benny Smith said.
A justified feeling. AAA says Americans are on track to spend almost half a trillion dollars in gas this year– the most in history.
In fact, a new report shows Americans are saving less to pay for their gas.
“You drop a couple of dollars down, then we would be alright, those little pennies ain’t much difference,” Smith said.
Unfortunately, AAA warns this price drop is not the new norm. But driver frustration is.
“I don’t even pay attention anymore,” Andre Wilson said. “I just got to get it so I get it. It’s crazy, though.”
For a little perspective, gas prices were $1.60 a gallon around Christmas 2008.