Gas prices dip to lowest since December 2010

Gas prices dip to lowest since December 2010

Just before the holiday season, gas prices are looking better than they have in years.

The national average hit $2.89 this weekend, with Wisconsin just under that at $2.85. That’s the lowest prices have been since December of 2010, according to AAA.

“We’ve been seeing this steady decline for almost six months now,” says Nick Jarmusz of AAA.

According to Jarmusz, that price slide results from both an abundant supply of crude oil and strong production in the U.S. and other exporting countries.

“On the domestic side, we’re not seeing any refinery issues or distribution issues that would cause a shortage or a price spike at the pump,” he says.

That translates directly into savings for consumers.

“We’d say on average you’re saving about between $5 and $10 a fill up,” Jarmusz says.  “Depending on your vehicle and how often you drive it, [it could reach] $40 or $50 a month.”

According to AAA, prices are on a 53-day continuous slide, the longest since 2008, and they’re expected to keeping sliding through the Thanksgiving holiday.

Consumers are saying less is more. AAA reports about 40 percent of people still think the $3 mark is too much, and the current price dip has not impacted how much people are filling up yet.