If you drive a car, this probably isn't a surprise to you, but the Lundberg Survey of gas stations made it official on Sunday: Gas is (relatively) cheap again in America. The most recent Lundberg report pegged the average U.S. gas price at $2.72 a gallon, down a dollar from early May and 12 cents from the last survey two weeks ago. This is the lowest price for gas since Sept. 10, 2010.
The most expensive gas last week was in San Francisco ($3.04 a gallon); the cheapest, Albuquerque, New Mexico ($2.38 a gallon).
The reason for the cheap gas is the sharp drop in crude oil prices, says survey publisher Trilby Lundberg. And barring a rebound in oil, "we may see a few more pennies drop before Christmas," she added. Some analysts don't see oil prices rising much in the next few years. Sadly, that can't be said of sky-high airfares.