Gas prices in Maryland, U.S. hit two-year low

Price could fall to $3 a gallon by end of the year, AAA says

November 08, 2013|By Kevin Rector, The Baltimore Sun

Average gas prices in Maryland and across the country fell to their lowest level in two years Friday, and are expected to continue dropping through the end of the year, according to AAA Mid-Atlantic.

The average price of gas in Maryland was $3.24 a gallon on Friday, the cheapest price since Dec. 28, 2011, the driver services group said. The nationwide average per gallon was $3.21, the lowest since Dec. 21, 2011.

Americans have paid more than $3 a gallon for nearly 3 years straight, but AAA expects current downward trends in pricing could continue through the end of the year, bringing averages as low as $3.10, the group said.

Friday's average price in Maryland was 4 cents less than last week, 8 cents less than last month and 25 cents less than last year.

The nation's average was 7 cents less than last week, 14 cents less than last month and 25 cents less than last year.

AAA cited recent drops in crude oil prices, due to rising supplies and weak demand, and a relatively strong U.S. dollar against foreign currency.

Gas blends sold in the winter in Maryland are also cheaper than summer blends.

krector@baltsun.com

twitter.com/rectorsun

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