Prices at the pump following
Prices at the pump could fall to two-year lows in the next few weeks following drastic crude oil price reductions, the American Automobile Association said.
On Thursday, local averages were around $1.73, while the state average reached a low of $1.61. Nationally the price was at $1.50.
“The big drop in crude oil prices — from around $28 prior to the attacks — means that retail prices should begin falling soon,” said AAA spokeswoman Lisa Foster. “This will make autumn travel more affordable.”
The drop can be traced to expectations of lower demand following the Sept. 11 attack on the World Trade Center and Pentagon. The decreased demand for jet fuel has freed up the capacity for production of gasoline.
The AAA anticipates a national average price of $1.40 before thanksgiving.