Gas Prices Down in Some Cases Below $3 Per Gallon

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Many people are driving away with more cash in their pockets as gas prices continue to fall, and AAA Nebraska says it all comes down to supply and demand.

It's a rare site at the convenience store super unleaded gas just under three dollars. People filling up say they welcome the cheaper price.

"I'm kind of happy it's down," said Consumer Sam Lenburg.

"It's been so high for so long that you think $2.98 is a good price, it's good to see it lower for a change," said Consumer Teresa Nelson.

And that lower price is keeping a tad bit more money in your pocket.
AAA Nebraska says some of the lowest prices are in Grand Island.

"The reason for the decline is because of two reasons. One oil production is up. In fact North Dakota has become the second largest oil producing state in the country. Also U.S. Inventories for crude are up about ten percent from where they were a year ago," said AAA Nebraska Spokeswoman Rose White.

The other factor for lower prices, demand for the product is down.

"And that can largely be attributed to more consumers by in large driving more fuel efficient vehicles," said White.

Many people say they already know what they are doing with the extra savings from the pump.

"Right now we're using it for Christmas," said Nelson.


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