Gas prices drop another 10 cents to $4.05 a gallon

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The cost of a gallon of gasoline dropped another 10 cents this morning.

A gallon of regular unleaded at Mobil now stands at $4.05, down from $4.15 yesterday. 76 are Shell are both expected to follow suit as they usually do.

This is the second price drop of the year following a 10-cent cut on Jan. 23.

There has only been one price increase this year, on Jan. 8, when the price briefly shot up 10 cents in the wake of Iran’s missile attack on U.S. military installations in Iraq.

The American Automobile Association reports that prices are dropping because crude oil costs have fallen $10 a barrel since last month and U.S. gasoline stocks are at an all-time record high.

“Cheaper crude and healthy stock levels mean motorists can expect prices to continue to decline this month,” said AAA spokesperson Jeanette Casselano.

Triple A reports that the average price for a gallon of regular unleaded on the mainland now stands at $2.47.

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