Americans probably will be paying the lowest prices for gasoline since January 2011 by Christmas, with some drivers filling up for less than $3 a gallon.
Prices may drop 25 cents to 30 cents by Dec. 25, said Michael Green, a spokesman for AAA, the nation’s largest motoring club.
The average cost for a gallon of regular gasoline was $3.399 yesterday, the lowest level since Jan. 29, according to AAA.
Experts cited eased Middle East tensions and the absence of major storms in the Gulf of Mexico region, home to 12 percent of US crude production and 45 percent of its refining capacity.