Markets

Commodities: Gasoline Prices Continue To Drop; Now at $3.28 Per Gallon Thanks To Crude Oil Price Decline

Prices for gasoline are at their lowest prices of the year and could continue to fall through the remainder of calendar 2013 due to flat demand, the shift to cheaper winter-blend gasoline and falling crude oil prices, according to motoring and travel group AAA.

Today's national average price for regular unleaded gasoline is $3.275 per gallon, which is the lowest price of 2013 and down from $3.50 a year ago, AAA said.

"Abundant supplies and a decrease in Middle Eastern tensions have helped push down crude-oil costs, which makes it less expensive to produce gasoline," said spokesman Michael Green. "Some of these savings get passed on to consumers in the form of cheaper gas prices."

December futures crude oil contracts are down 88 cents or 0.9% this morning to $95.49.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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