THE BARE STORY
The U.S. average price for regular gasoline fell below $4 a gallon on Nov. 10 for the first time since July, according to AAA. The national average stood at $3.9788 per gallon.
AAA data showed the average was about 17 cents lower than a week earlier and nearly 39 cents below its level a month ago. It was also down from $4.56 per gallon recorded earlier this year.
Analysts cited lower crude oil prices and typical seasonal declines in demand as factors behind the decrease. AAA said gasoline prices commonly fall during winter as travel demand declines, while the change from summer-grade to less costly winter-blend fuel can also reduce prices.
The Bureau of Labor Statistics reported that energy prices rose 0.7% in October, compared with a 5.2% increase in September. Its gasoline index increased 1% after rising 9.1% the prior month.
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