Students can stop searching their couch cushions for spare pennies and dimes because gas prices have fallen below $3 near UCF.
The average price for gasoline in the U.S. has now dropped to about $3.03 per gallon, a low that hasn't been seen since December 2010, according to GasBuddy. More than 50 percent of all retailers across the U.S. have gas prices below $3. In Orlando, the average gas price is $2.96 as of Oct. 27.
"It may seem difficult to believe but gasoline below $3 per gallon can now be found at stations in 47 states," senior petroleum analyst with GasBuddy Patrick DeHaan said in a release. "With multiple factors pushing retail prices lower in most parts of the country, we expect we'll see the national average fall below $3/gal before Halloween."
The lowest priced gas was found in Memphis, Tennessee where gas was $2.39 per gallon.
But GasBuddy warns that gas prices may begin to rise again in 2015.
"Global crude prices continue to decline and West Texas Intermediate (WTI) has slipped below $80 per barrel," another GasBuddy senior petroleum analyst Gregg Laskoski said in a release. "But, all good things come to an end … EPA mandates for 'summer blend' gas ensure that prices will climb back up in the new year."
Cheapest gas prices near UCF as of Oct. 27:
$2.87 at the Shell at Rouse Road and Bloomingfield Drive
$2.89 at the 7-11 at Colonial Drive and Rouse Road
$2.89 at the 7-11 at Alafaya Trail and McCulloch Boulevard