Gas Prices Continue to Drop, Here's Why
This will never get old. Today marks the 79th day that gas prices have consecutively dropped. The current average price of a regular gallon of gas is $1.912. Statewide, it's a penny cheaper and about 12-cents cheaper nationally. So why is this happening? We asked Marie Montegomery over at the Automobile Club of Southern California (AAA): "We had price levels that were probably unsustainable earlier this year. They were based on not the laws of supply and demand, but where investors perceived where their money would be safest. They were buying up commodities like oil and gasoline futures and prices skyrocketed. Then when all this economic turbulence occurred in September, the bubble burst and everything spiraled down." Boy, did it ever.