The average price of gas at pumps across the country have dropped to a near four-year low of $3.08 a gallon, according to a recent survey.
The price has dropped by 29 cents since last year and represents the lowest average cost of gas since Dec. 17, 2010, according to the Lundberg Survey released Sunday. Gas prices have been steadily falling in recent months and are expected to continue to decline amid increasing oil production in the U.S. and abroad.
“The crude oil price crash has been passed through by refiners,” Trilby Lundberg, president of Lundberg Survey, told Bloomberg News. “Retailers will probably be pressed to pass through at the pump a few more pennies of price-cutting sometime soon.”
The cheapest prices could be found in Memphis, Tenn., where gas was going for an average of $2.73 a gallon, according to Lundberg. San Francisco has the most expensive gas, at an average of $3.45 a gallon.
The Lundberg Survey tracks prices at some 2,500 gas stations across the lower 48 states.
More Must-Reads From TIME
- The 100 Most Influential People of 2024
- Coco Gauff Is Playing for Herself Now
- Scenes From Pro-Palestinian Encampments Across U.S. Universities
- 6 Compliments That Land Every Time
- If You're Dating Right Now , You're Brave: Column
- The AI That Could Heal a Divided Internet
- Fallout Is a Brilliant Model for the Future of Video Game Adaptations
- Want Weekly Recs on What to Watch, Read, and More? Sign Up for Worth Your Time
Write to Noah Rayman at noah.rayman@time.com