Evelyn Erives

Evelyn Erives

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Government Predicts Gas Will Drop Below $3/Gallon Soon

Man getting receipt from gas pump

Photo: Getty Images

Gas prices are finally starting to fall - and are expected to drop even further, according to a government report.

The U.S. Energy Information Administration says the national average price for a gallon of gas will be down to $3.01 by next month - and average $2.88 in the new year. The estimate is based on increased production and lower costs for barrels of oil.
Gas prices reached a high of $3.39 a gallon in November - the highest average in seven years. [CNN]

Keep in mind, here in California, the prices will be higher than the national average, but at least it's headed in the right direction.

How much do gas prices factor into your travel plans? Do you think they'll drop next year?


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