AAA: Consumers now saving $100 per month on gasoline

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HOUSTON — U.S. households are saving about $100 per month on gasoline prices today compared to peak prices they experienced during the spring and summer, AAA said Friday.

Gasoline prices averaged $2.60 per gallon Friday — the lowest level since Dec. 27, 2009. In the Houston area, gasoline average $2.40 per gallon.

Meanwhile, it appears that those prices are likely to plummet even further.

Earlier this month, AAA forecast that gasoline prices would fall to $2.50 per gallon by Christmas, but now the group says it’s likely the price will drop sooner than that.

“There is no end to sight to lower gas prices as crude oil continues to fall sharply,” the auto club said in a statement.

On Friday, the U.S. benchmark crude price continued to fall as well, closing at $57.81 per barrel — a $2.14 drop for the day.

Dramatic gasoline price drops have translated to a collective savings of $375 million per day on gasoline for American consumers, relative to peak prices earlier this year, AAA said. Drivers are paying $15 to $30 less each time they fill up their vehicles.

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