Gasoline prices as of Friday were at their lowest level in nearly three years. The Lundberg Survey says another three-cent drop in the nationwide cost of gas in the past
two weeks, put it at $1.12 per gallon. But analyst Trilby Lundberg in Camarillo, says the price at the pump may be hitting bottom in the next month. The current oversupply of gasoline is expected to end, with prices starting to reflect a rising cost of crude oil.
The average price per gallon has dropped by nearly 45 cents since September seventh. The Lundberg Survey of eight-thousand service stations has to go back to March of 1999 to find a lower average gas cost, which was $1.08.