Lowest Gas Prices in 3 Years in ’13; Set to be Lower in ’14

Posted at 5:02 AM, Jan 02, 2014
and last updated 2014-01-02 05:02:58-05
Gas Prices

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NEW YORK (CNNMoney) — Drivers fueled up for the lowest price in three years during 2013, according to AAA, and even lower prices are expected in 2014.

The motorist group reports that the national average price for a gallon of regular gas was $3.49 in 2013. That’s down about 12 cents from the record price set in 2012 and is a couple of cents cheaper than 2011.

“It was a relief to see gas prices decline in 2013 following record-breaking pain at the pump in recent years,” said Avery Ash, an AAA spokesman. “Our hope is that prices will continue to fall as cars grow increasingly fuel efficient and refineries expand production to take advantage of the recent boom in North American crude oil.”

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