Gas Prices Hit Seven-Month Low

An uncertain economy has led to continued lower gas prices for motorists, even as the U.S. is expected to spend a record amount on fuel in 2011.

According to the latest AAA survey, the national average for a gallon of regular unleaded gas was $3.42 on Sunday, a 9 cent drop from a week ago, yet still 72 cents more than a year ago.

In Maryland, the average price for regular was $3.36 on Sunday, down from $3.45 the week before. Still, this is 72 cents higher than a year ago, according to AAA.

“Not since March of this year have we seen the national average gas price below $3.50 per gallon,” said AAA Mid-Atlantic spokeswoman Ragina C. Averella in a statement. “Now that crude oil has settled in the $80 range, down from a three-year high this spring, gas prices are shifting downward as well, bringing much needed relief for cash-strapped motorists. 

"American consumers are spending about $1.3 billion a day on their fuel purchases. Back on May 5 when retail gasoline prices peaked at $3.98 per gallon, we were forking over $1.51 billion a day.”

According to AAA, gas prices could fall close to $3 a gallon nationwide by the end of the year, but are likely to spike again in 2012. In addition, AAA reports, U.S. motorists are expected to spend almost $490 billion on gas this year—the most in history.

Here are the cheapest prices in the Dundalk area, according to MarylandGasPrices.com.

Gulf

$3.19