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Where to Find the Cheapest Gas in the U.S.

By Lifestyle and Budget FOXBusiness

Gas prices across the U.S. are dropping fast, with the national average nearing a four-year low.

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“The national average is down ten cents week-on-week. That’s a huge movement in the national average,” GasBuddy analyst Patrick DeHaan said, adding that in his five years watching gas prices, they generally move only by half of a penny or a penny a day.

With the national average for a gallon of regular gasoline currently at $3.15, DeHaan said Americans could see it fall to under $3 by Election Day in early November.

“That’s my prediction. It’s not a guarantee, but it’s a likely probability. It would be the first time [the average fell below $3] since December 22, 2010,” DeHaan explained.

The price drop is due to a combination of seasonal and geopolitical factors. While gas prices generally drop in the fall, as demand slows down and Americans switch over to cheaper winter gasoline, DeHaan said added to the current drop is an OPEC-fueled price war.  

Lower gas prices generally encourage consumers to get out of their houses and do some fall shopping. Compared to last year, American drivers are saving $75 million each day, due to lower prices at the pump. But DeHaan said that worries over Ebola could eventually keep some shoppers home, causing gas prices to drop even further.

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“If [Ebola] spreads, it could affect consumer sentiment, and if people are going out less, it could have a trickle-down effect on oil and gas prices,” DeHaan explained.

Here are the towns and states with the lowest gas prices in the U.S.

5 U.S. Towns with the Lowest Gas Prices

1. Humbold, Tennessee: $2.32/gallon

2. Gray Summit, Missouri: $2.39/gallon

3. New Haven, Missouri: $2.39/gallon

4. Pearland, Texas: $2.47/gallon

5. Westwood, New Jersey: $2.49/gallon

6 U.S. States with the Lowest Gas Prices

1. Missouri: $2.83/gallon

2. South Carolina: $2.93/gallon

3. Tennessee: $2.94/gallon

4. Oklahoma: $2.94/gallon

5. Minnesota: $2.95/gallon

6. Mississippi: $2.95/gallon

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