It’s been a year when the U.S. economic recovery struggled to regain its momentum, but Americans can take heart with one trend of late that’s been running in their favor.
Just in time for end-of-the-year holiday travel, gas prices fell another 5 cents last week to an average of $3.23 per gallon for regular unleaded, according to the Lundberg Survey.
Trilby Lundberg, president of the Lundberg Survey based in California, said two factors are putting downward pressure on gas prices.
“Unknowns about the European debt crisis seem to have made oil prices skittish, and it is the cause of continued declines at the pump,” Lundberg said. The U.S. gasoline market continues to receive down pressure from falling gasoline demand.”
The average price of mid-grade unleaded was $3.40 per gallon; the average price for super unleaded was $3.52 per gallon.