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Can Gas Really Drop Below $3.00 a Gallon?

Gas stations have been happy places these last couple of months. In fact, according to MSNBC, the price of gas has fallen by more than 7% across the nation in just the last month alone. This is pretty heady stuff considering it was just back in spring that folks were all a’ fretting about that mythical $5.00 gallon a gas galloping towards us all, breathing fire, whipping its frothing horse.

Now the question is, can gas drop back down below three bucks a gallon? The answer is already here, and it is a shocker. Yes, there are places in America right this moment where a gallon of regular gas can be had for less than $3.00 a gallon.

MSNBC looked into the matter. It found that five out of the 10 states with the cheapest gas were near the Gulf Coast. They say that a combination of low gas taxes and proximity to oil refineries leads to low gas prices.

The states with the cheapest gas are:

10. Missouri, Regular gas price per gallon: $3.23

9. Texas, $3.22

8. Virginia, $3.20

7. Georgia, $3.19

6. Arkansas, $3.17

5. Louisiana, $3.16

4. Tennessee, $3.08

3. Alabama, $3.07

2. Mississippi, $3.06

1. South Carolina, $2.99

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The author has many years of experience in automotive finance and insurance. However, each consumer's situation is unique. It is best to contact a finance specialist for further assistance.
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