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Gasoline prices soon to hit low point for 2012

[December 15, 2012]  DETROIT (AP) -- Gas prices will soon drop to their lowest level of the year.

By Monday, the national average should fall below the $3.2775 a gallon drivers were paying on Jan. 1, according to analysts. The drop is a present for those planning to hit the road during what is expected to be the busiest Christmas travel season in six years.

Still, it's more like a stocking stuffer. That's because for the second straight year, Americans will spend a record amount on gasoline. The government estimates that gas averaged $3.63 a gallon this year, 10 cents above the record set a year ago.

Drivers can only hope that forecasts for lower prices next year come true.

[Associated Press; By SANDY SHORE]

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.