DALLAS — According to the U.S. Energy Information Administration, gas prices in the run-up to the holiday weekend are at their lowest level in four years. The national average on Monday was $3.45 a gallon for regular.
"Prices are lowest on the Gulf Coast ($3.24/gal) and highest on the West Coast ($3.83/gal) as of Aug. 25," the agency said in a report Friday.
The reason, according to the energy agency, is predicted disruptions in Iraqi oil production over the conflict with the Islamic State haven't materialized as expected. Add in Libya increasing exports and indications global demand is weakening and you have a recipe for cheap gasoline.
And gas prices are expected to continue to decline.