Gas prices may remain under $3 for the foreseeable future, because the price of oil has plummeted significantly in recent weeks. According to the Chron, the average price of gas in California has dropped to $2.89 a gallon, down from the year’s high of $3.03 set last month. At the same time, oil prices plunged to just $59.79 per barrel on Tuesday, down substantially from the $73 peak in June. Experts attribute the oil price drop to concerns that the recession will last longer than some economists had expected.
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