The national average gas price of $3.74 a gallon on Tuesday may soon see a drastic curve downward. Motorist can look forward to a drop of 20 to 25 cents before the month’s end, reports NBC News on March 5.
Although gas prices are already 3 cents lower than last year at this time, analysts expect the downward slide to continue throughout the month. Last year at this time, gas prices rose almost every day.
Although a few cents doesn’t sound like much, OPIS analyst Tom Kloza says a 20 cent decrease in gas prices amounts to $471.4 million nationwide.
According to USA Today, the current declining prices of gas represent the first fall in gas prices since December 2012.
To date, the highest reported gas prices are on the West Coast at an average of $4 a gallon while the Rocky Mountain States are enjoying and average of $3.48 a gallon.