US fuel prices at their lowest level in 12 years image

Drivers across the United States are enjoying the cheapest quarterly gas prices in 12 years, according to the American Automobile Association.

Even if the pace of the auto sales has eased up a bit this year in the United States, volumes are still rock solid and the drivers keep on being motivated by the same growth factors as last year, among which low fuel prices. In the first three months of 2016, Americans payed for a gas tank the lowest bill in the past 12 years, thus spending nearly 10 billion dollars less on gas so far, compared to the same period in 2015, a saving of about 45 dollars per each driver, according to new data from the American Automobile Association. The national average price of gas from January to March was 1.86 dollars per gallon, making it the cheapest quarter for gasoline since the first quarter of 2004. However, prices have lately gone up and drivers are now paying up to 9 dollars more for a refill compared with mid-February.

Last year, lack of demand and high supply of oil worldwide helped the drivers spend an average of 550 dollars less on fuel compared to 2014, saving 115 billion dollars in total. US finished 2015 with gas prices averaging 2.40 dollars per gallon for regular, compared to 3.34 dollars in 2014 and 3.49 dollars in 2013. Data gathered by the Federal Highway Administration also showed that US motorists made some longer than ever journeys last year, traveling a record 3.148 trillion miles.