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Gas Prices Drop

March 7, 2012 by staff 

Gas Prices Drop, The average price of a gallon of regular gasoline at the pump fell Tuesday for the first time in 39 days, according to a new survey of prices.

On Tuesday, the average price of regular gasoline fell to $3.76 a gallon, down from $3.77 a day earlier, according to data from AAA’s Daily Fuel Gauge Report.

Prices have been climbing every day since Jan. 26, when they stood at $3.38 a gallon.

Gasoline prices are still up nearly 29 cents from a month ago and almost 26 cents above a year ago, the data show.

Tom Kloza, chief oilanlyst at the Oil Price Information Service (OPIS), which compiles the data for AAA, said he expects “flat choppy prices through the week.”

“I still believe in my heart of hearts that $4.50-$5 a gallon average prices are bunk, hyperbole, or a pipe dream for some investors. I am maintaining my view that the national average peaks at between $3.75 and $4.25 a gallon,” he said.

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