Gas Prices Have Dropped By 30 Percent Over The Past Year

Photo: Getty Images-alvaro gonzalez

It looks like the outrageous gas prices that were plaguing the country about a year ago are behind us.

The average cost of a gallon of gas has fallen from about $5 to the current price of $3.50, according to data provided by GasBuddy. That’s a drop of 30 percent.

Part of the reason for the price drop is the cost of oil has gone down, industry experts say. A barrel of West Texas Intermediate crude oil is currently going for about $70 – which represents a 33 percent drop from the same time last year.

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