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Has your wallet been feeling a little thicker lately (figuratively, of course)? That could be because gas prices are the lowest they’ve been since December 2011 with a national average of about $3.21 per gallon, according to LA Times. In honor of our recent deliveries to gas stations in King William, VA; Wilmington, DE; Southern Pines, NC; and Raeford, NC, we decided to post about this notable decline.
This drop in gas prices is a result of multiple factors, the most important of which is probably the season. Every year, gas prices rise in the summer along with greater demand for driving due to the nicer weather and vacationing. Then, in the winter, as demand for driving falls again, the gas prices fall along with it.
In addition to the seasonal shift, however, is the increased supply of crude oil. U.S. oil production is higher than it’s been since 1989, decreasing the cost of a barrel of crude oil by about $10 since August.
Regardless of the reasons behind this dip in gas prices, it is certainly a great holiday gift to us all. Let’s enjoy it while it lasts.