Gasoline prices are now cheaper across the U.S. than they were a year ago, and the price per gallon could fall below $3 for most Americans by the end of the year.

According to AAA, the national average for a gallon of unleaded gasoline was $3.329 on Thursday, below the $3.343 a year ago, before Russia’s invasion of Ukraine. Unleaded gasoline was at a record $5.01 per gallon June 14 and stayed high through the summer and fall.

Gas prices fell 15 cents per gallon in the past week and are down from $3.80 a gallon a month ago.

“For the next 55 days, it looks good for consumers but ugly for refiners,” said Tom Kloza, global head of energy analysis and co-founder of OPIS, formerly Oil Price Information Service. “They’re running refineries so hard because of the diesel shortage that they’re making too much gasoline. We’re running about 7% behind last year in terms of demand.”... Read More: CNBC