Gas Below $3/Gallon For First Time Since 2010

If you haven't fueled up your car in a few days, now would be a good time. Ethanol-blended gasoline in Lincoln is below $3/gallon for the first time since 2010. The average price for regular gas is $3.14, but having at least one option fall below $3/gallon is good enough for many.

The experts at AAA Nebraska said it's not a complicated scenario that led to the drop in prices. It's simple supply and demand. Right now the oil production is up, especially domestically in North Dakota. The U.S. also has about 10 percent more crude oil on-hand than last year. Demand is also lower with greater use of fuel efficient vehicles.

Whatever the reason, drivers are just relieved to see the change.

The big question is will the prices continue to fall or at least stay close to where they are, or will we see a hike in 2013. AAA Nebraska said that's harder to predict. It will depend on the fluctuation with supply and demand. You might just want to take advantage now just in case.

The Nebraska gas tax also dropped 1.6 cents on January 1. It now sits at 24.6 cents per gallon.


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