The average gallon of gas in the U.S. has dropped about 18 cents, to $3.08 a gallon, according to the Lundberg Survey. Gas prices are now at their lowest since December 2010, and about 29 cents below the price a year ago. "The crude oil price crash has been passed through by refiners," says Trilby Lundberg. "Retailers will probably be pressed to pass through at the pump a few more pennies of price-cutting sometime soon."
The lowest gas prices in the 48 contiguous states was Memphis, where gas was $2.72 a gallon on Friday; the highest, $3.45 a gallon, was recorded in San Francisco.