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Gasoline Prices Soon to Hit Low Point for 2012

Posted at: 12/14/2012 2:06 PM
By: SANDY SHORE, AP Business Writer

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Gas prices will soon drop to their lowest level of the year.

By Monday, the national average should fall below the $3.2775 a gallon drivers were paying on Jan. 1, according to analysts. The drop is a present for those planning to hit the road during what is expected to be the busiest Christmas travel season in six years.

Still, it's more like a stocking stuffer. That's because for the second straight year, Americans will spend a record amount on gasoline. The government estimates that gas averaged $3.63 a gallon this year, 10 cents above the record set a year ago.

Drivers can only hope that forecasts for lower prices next year come true.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)