Falling gas prices continue, AAA says possible end in spring

MEDIA, Pa. (WPVI) -- It's the downward trend helping keep your wallet a little fuller.

Gas prices are way down compared to this time last year and drivers say winter is as good a time as any to take advantage of that trend.

2004 was the last time the Philadelphia region saw average gas prices below $2.

"The last time I saw gas this cheap was when soda was 50 cents a can, so it's been a long time," Nick Caligiuri of Brookhaven, Pa. said.

Caligiuri says he can't always afford to fill up his gas guzzling SUV, so the $1.89 the Liberty station in Media charges clogs the drain on his wallet.

"Five bucks now gets me almost three gallons of gas so it takes me a lot farther now," Caligiuri said.

"I love it. I absolutely love it. Having a great winter because of the gas prices," Lori Daley of Middletown, New Jersey said.

In New Jersey, which most recently saw prices drop below $2 in September, we found gas going for $1.69 In Atlantic city.

In South Jersey, the average is $1.66.

In Delaware, $1.77.

But the Philadelphia five county average sits above $2 at $2.04, down 16 cents since last month.

But a little hunting and you can find gas below $2 like at a Costco in Glen Mills.

AAA's Jana Tidwell says the regional average will likely drop below $2 as the cost of crude oil continues to fall along with demand.

"They are oversupplied and this time of year demand is lower," Tidwell said.

Low gas prices allow drivers to spend money other ways which is good for the economy.

But like all good things, this too may come to an end.

"As we get into the refinery maintenance season and then into spring and summer blended gasoline that will increase the price at the pump," Tidwell said.

But don't panic yet, AAA doesn't expect prices to climb over $3 for the rest of the year.