U.S. drivers paid the least for gas in April than they have in at least three years, the AAA said on Tuesday, bringing hopes of relief at the pump just in time for the summer driving season.
The AAA said national gas prices averaged $3.55 per gallon, their least expensive in April since 2010. Over the course of the month, retail gasoline shed nearly 3 percent, or 13 cents per gallon—its largest percentage decline for the month in a decade, the agency said.
"Gas prices have fallen faster and earlier than ever before for this time of year, and it is saving motorists millions of dollars per day in lower fuel costs," said Avery Ash, a spokesman for the AAA.
Market watchers cite a combination of factors behind the move. Primarily, sliding crude oil prices in world markets, and a lack of major refinery outages that normally lead to fuel shortages and drive up prices, have helped to contain prices.
In particular, the steep drop in Brent crude—which has plunged from over $116 per barrel in February to under $103 on Tuesday—has trickled down to the pumps.