By: April Ryan, aprildryan.com | AURN
Gasoline prices are going down according to the White House. Data from AAA supports that claim looking at the average price a year ago.
Prices updated as of 9/15/2014 3:45am
|Week Ago Avg.||$3.438||$3.637||$3.809||$3.796|
|Month Ago Avg.||$3.468||$3.666||$3.839||$3.823|
|Year Ago Avg.||$3.523||$3.705||$3.870||$3.942|
The reason for the price decline; the United states is producing more oil, a light sweet crude. Also part of the equation, Americans are consuming less oil with increasing numbers of fuel efficient cars. National Economic Advisor Jason Furman explains why – LISTEN:
In the past, the United States relied on the imports of heavy sour crude from places around the world, such as Persian countries, Canada, Mexico, Kuwait, Iraq and Nigeria.