JACKSONVILLE, Fla. -- The good news is gas prices are down. The question is, are they as low as they should be? We asked the experts at AAA.
AAA tracks gas prices all year long. And when we asked about how the price per barrel affects the price you pay at the pump, David Cawton told us it's all about timing. "It has to do with when gas prices started to fall," he said.
Here's how AAA breaks it down.
For the past two weeks, crude oil prices have been below $85 a barrel. The last time that happened was in September and October of last year.
Back then, the national average for a gallon of gas was $3.40.
Right now, the national average is $3.54 a gallon, 14 cents higher than it was in September and October of 2011.
So AAA says prices do drop when barrel prices go down, but on a sliding scale.
Cawton said, "Although crude oil is down to $85 a barrel our average gas prices are higher than what it was last time when it started to fall."
AAA says we can expect this trend to continue. Gas prices are dropping an average of 5 cents per week, which is exactly what you want to hear at the start of summer.
