Gas dipped below $3.90 based on the AAA assessment of the average price for a gallon of regular nationwide. The price yesterday was $3.891, down from $3.899 the day before and $3.907 a week ago. The price is not much higher than the year ago $3.837.
Prices of gasoline futures have also leveled out as oil prices have begun to fall and low refinery capacity has not caused the drops in supply which were expected. The effects of high gas prices on the economy have been less than many economists suggested, and, as prices slip, the risk of a dent in GDP may have passed.
The news is particularly good as the summer driving season approaches