http://www.myfoxny.com/story/27267243/gas-now-cheaper-than-milkGas now cheaper than milk
Posted: Nov 04, 2014 11:02 AM EST
Updated: Nov 04, 2014 12:16 PM EST
JONATHAN FAHEY
NEW YORK (AP) — The sight is so surprising that Americans are sharing photos of it, along with all those cute Halloween costumes, sweeping vistas and special meals: The gas station sign, with a price of $2-something a gallon.
"It's stunning what's happening here," says Tom Kloza, chief oil analyst at the Oil Price Information Service. "I'm a little bit shocked."
The national average price of gasoline fell 33 cents to end October at $3 a gallon and dipped Saturday to $2.995, according to AAA. That marks the first time in four years that gas has been cheaper than $3 a gallon.
household about $50 a month.
— The drop will save the U.S. economy $187 million a day, and also boost the profits of shippers, airlines, and any company that sends employees out on sales calls or for deliveries.
— It will take an extra 1.5 years to make purchasing a higher-priced, better-mileage Toyota Prius instead of a Toyota Corolla pay off.
— New York's average of $3.365 is the highest in the continental U.S. South Carolina and Tennessee are the lowest, with an average of $2.74.