Gasoline prices to keep falling through 2013, AAA says

HOUSTON — The price of gasoline has dropped again — after reaching its lowest point in nearly 33 months on Monday — and will keep falling through the end of the year, according to automotive organization AAA.

U.S. drivers paid a national average of $3.19 for a gallon of regular gasoline on Monday, the cheapest average since February 2011, according to AAA. On Tuesday, the average price dropped a penny to $3.18.

AAA expects the national average could fall close to $3 per gallon by the end of the year, as U.S. demand for gasoline sinks and the global crude oil price drops. An ample national gasoline supply — about 8 percent higher than a year ago — is putting more downward pressure on prices, AAA said.

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The national average gas price has dropped for 10 consecutive weeks, falling a total of 41 cents per gallon since Labor Day, according to AAA.

Texas, where drivers paid an average of $2.94 per gallon Tuesday, is one of six states where the average gasoline price has dropped below $3.  Oklahoma ($2.93), Missouri ($2.81), Kansas ($2.95), Louisiana ($2.99) and Arkansas ($2.93) also had average gas prices below $3 Tuesday.

Still, sub-$3 gas was available across the country this week, with one in four U.S. gas stations selling gasoline for less $3, AAA said.

In Texas, Beaumont-Port Arthur was the metropolitan area with the lowest price on Tuesday, at $2.90. The average gasoline price in Houston was $2.92.

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Pain at the pump? Smile. At least you don’t live in Norway.