U.S. drivers will pay an average of less than $3 per gallon on Election Day, according to AAA.
It's the first time gas prices have dropped to that level since Dec. 22, 2010.
“Consumers are experiencing ‘sticker delight’ as gas prices unexpectedly drop below $3.00 in much of the country,” AAA CEO Bob Darbelnet said in a statement. “Lower gas prices are a boon to the economy just in time for holiday travel and shopping.”
Incumbents have been blamed in previous elections for gas price increases. AAA said 60 percent of U.S. gas stations were already charging less than $3 for a gallon of regular gas on Friday.
The Auto Club estimated that cheaper gas would save drivers $250 million per day collectively, compared to average price of $3.68-per-gallon price that was recorded earlier this summer.
“The steep decline in gas prices has helped to make driving less expensive for the vast majority of Americans who use their car every day,” Darbelnet said. “Many Americans are spending $10-$20 less to fill up the cars on every trip to the gas station compared to what they paid during the summer driving season.”
But the AAA chief said the break at the pump this fall and winter might be fleeting for drivers, because gas prices usually begin increasing again when the weather warms back up.
“Paying less than $3.00 for gas is a welcome holiday gift that may not last nearly as long as many would hope,” Darbelnet said in a statement. “It is possible that lower gas prices will soon be a faded memory, so enjoy it while you can. The days of paying more than $3.00 per gallon for gas have regrettably not gone away.”