LOS ANGELES (LA Times) –
Motorists driving in the U.S. in 2014 may enjoy some relief at the gas pump, shelling out about 5 cents less per gallon compared with this year, according to AAA.
Rising domestic crude oil production and increased refining capacity are helping insulate the U.S. from global disruptions in production, according to the motorist club.
That has helped drive down average gas prices this year to their lowest level since 2010. In 2013, the average price of a gallon of regular gas was $3.49, compared with $3.60 in 2012 and $3.51 in 2011, AAA said.
“Our hope is that prices will continue to fall as cars grow increasingly fuel efficient and refineries expand production to take advantage of the recent boom in North American crude oil,” AAA spokesman Avery Ash said in a statement.
Technologies such as hydraulic fracturing and horizontal drilling have unlocked a vast store of previously inaccessible shale oil in states such as North Dakota and Texas, pushing the nation’s crude production this year to its highest level in a quarter of a century, the federal Energy Information Administration said this month.
Read more, including a warning for 2014, on LATimes.com