'Thank God!' Drivers Welcome Plummeting Gas Prices

Plummeting gas prices are a welcome sign across the country and analysts say they may continue to fall.
    
The national average for a gallon of unleaded is below $3.00, the lowest it's been in four years.

Drivers across the country couldn't be happier about the cheaper prices at the pump.

"It's gonna go down even more, thank God, thank you, thank you," said a motorist in San Jose, California.

Delivery driver Anthony Vallarta, also of San Jose, said, "I'm delivering across the (San Francisco) Bay Area and cheaper gas helps me and my family."

More than 60 percent of U.S. gas stations are currently selling gas lower than $3.00 a gallon.

Motorists in the Southeast are enjoying some of the cheapest prices in the country.

South Carolina is the state with the lowest average gas price at $2.72 per gallon, according to AAA.

But in Spring, Texas, north of Houston, gas is down to $2.25, cheaper than a gallon of milk in some places.

Analysts cite several reasons for the cheaper pump prices, including U.S. oil production, more fuel-efficient cars, and refineries switching to production of less expensive winter blend gasoline.

Drivers are saving anywhere from $10 to $20 bucks a fill-up, leaving extra cash in their pockets..

Those lower prices are a good sign for consumer spending as the holiday season approaches because the more drivers save at the pump the more they'll have to splurge on other pleasures.

Meanwhile, AAA said gas prices are expected to stay at or below its current level at least through next spring.