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AAA: Gas to fall below $3 a gallon this weekend

The discount won't last forever, motor club says.

By Daniel J. Graeber
A gas station sells gas for below $3 a gallon in Cranbury, N.J. on Oct. 29, 2014. This week, the national average for a gallon of regular might hit $3, a low that hasn't been reached since 2010. UPI/John Angelillo
1 of 2 | A gas station sells gas for below $3 a gallon in Cranbury, N.J. on Oct. 29, 2014. This week, the national average for a gallon of regular might hit $3, a low that hasn't been reached since 2010. UPI/John Angelillo | License Photo

WASHINGTON, Oct. 31 (UPI) -- Motor club AAA said Friday it expects the national average price for a gallon of regular unleaded gasoline to drop below $3 by the weekend.

AAA reports a national average price for a gallon of regular unleaded gasoline at $3.003. An abundance of oil supplies, coupled with lower demand, is keeping prices lower despite tensions overseas.

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AAA said the national average price for gas will drop below the $3-a-gallon mark on Saturday, the first time prices will drop below that threshold in nearly four years.

"Overall, gas prices may remain relatively low this winter and could continue to drop another 5-15 cents per gallon in the near term as gas stations catch up with the steep declines in the wholesale market," the motor club said in a statement released to UPI.

Nearly two dozen states are reporting an average price below the $3 mark as of Friday.

AAA says it expects prices at the pump to continue to drop in the near term, though there's a limit as to how low then can fall.

"Paying less than $3 for gas is a welcome holiday gift that may not last nearly as long as many would hope," AAA Chief Executive Officer Bob Darbelnet said in a statement. "It is possible that lower gas prices will soon be a faded memory, so enjoy it while you can. "

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