Posted on April 8, 2013 at 7:24 AM
Monday, Apr 8 at 8:48 AM
AUSTIN -- Gas prices are dropping nationwide.
Currently Austin drivers are paying an average of $3.42 for a gallon of Regular Unleaded. A month ago Austin gas prices averaged at $3.55 per gallon, and a year ago they were $3.78 per gallon.
Historically, experts say lower prices give an overall boost to the economy.
“Lower gas prices light a fire under Americans. They really, really like low prices,” explained gasbuddy.com
spokesperson Patrick Dehaan.
Dehaan says more people spend their money on other goods and vacations when gas prices drop.
According to the Lundberg Survey of gas prices, the relief comes in part because crude prices are down but also because supply is up. Nationally prices average at $3.61 per gallon.
The cheapest prices are found in Indiana followed by Oregon and Washington State.
According to Lundberg, prices may drop again this week if crude prices remain unchanged or drop further.