(NBC News) The pain at the pump is on the decline.
Gas prices have dropped about 40 cents a gallon since the Fourth of July and are expected to drop another 20 cents per gallon before the end of the year.
“The economy is certainly going to get a nice boost from lower gas prices, today already about 10 percent of U.S. stations are selling gas for less than $3 per gallon,” says AAA’s Michael Green.
Credit goes to recent boom in North American petroleum production and beefed up crude oil supplies. Combine those elements with lower demand as the weather gets cooler, and most drivers will soon be paying the lowest prices of the year.