Gasoline prices have dropped to the lowest level seen in nearly 5 years having reached a national average price of $2.89 for a gallon of regular gasoline.
Multi year lows are expected to be seen through the busy Christmas holiday travel period, and should remain low into the new year.
Diesel average nationwide price is down to $3.67 a gallon providing some cost relief to many industries including transportation, construction, and mining.
As usual, California has the highest average prices the nation, with a gallon of regular gas averaging $4.46. Gas in North Orange County can be found as low as $3.89 a gallon at some ARCO stations.
Most analysts expected the price of oil to decline slightly in the coming months, providing the catalyst for continued lower prices at the gas pump.
