The price of gas has fallen 42 cents over the last month. The Illinois average was $3.92 a month ago and is $3.50 today, according to the Triple-A Fuel Gauge Report. Triple-A spokesman Beth Mosher describes the drop this way: “Plummeted is a very good word. In fact, October saw the largest month-over-month decline since October of 2008, so we are definitely moving in the right direction, we think that this is gonna continue through the end of the year so, yeah – great news for consumers,” she said.
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Mosher says the price should have been lower last month, which is why the decline is so large. Add to that the switch to the winter fuel formula and a worldwide drop in demand and you have the reason for the change.