The national average price of regular unleaded gasoline dipped on March 8 for the first time since increasing for 40 consecutive days—the longest streak of daily price increases since 2011, AAA reported.
During the 40-day rise, average gas prices grew by 43 cents per gallon. On Saturday they fell by half a cent.
Currently the national average stands at $2.45 per gallon, up three cents compared to last week and 28 cents more than last month. Compared to the same date last year motorists are saving an average of $1.04 per gallon, according to AAA.
Drivers in California where the statewide average gas price is a whopping $3.43, are facing the highest gas prices in the country. Meanwhile, motorists in South Carolina ($2.16), Wyoming ($2.16) and Montana ($2.20) are paying the least per gallon to refuel their vehicles.
As for prices in the coming months, AAA noted that the global price of crude oil remains volatile because of speculations about possible production cuts due to oversupply and news of rising global demand. Unless there is intervention from OPEC (Organization of the Petroleum Exporting Countries), global prices are expected to continue to fluctuate as markets attempt to self-regulate and find balance.