Gas Less Expensive, But It’s Still Not Cheap

NEW YORK (October 24, 2012)--The national average for a gallon of gas has dropped 13 cents in the past week to $3.625, the biggest weekly decline since the 7-day period ended Nov. 28, 2008, according to Oil Price Information Services analyst Fred Rozell.

Falling oil prices, rising supplies of gasoline and a switch by refiners to cheaper winter blends of gas have contributed to lower pump prices, but gasoline is still more expensive than it's ever been for this time of year.

The previous record for Oct. 23 was last year's $3.46 per gallon.

Rozell said gasoline has averaged $3.65 so far this year, 10 cents more than the record set in 2011.


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