(CBS NEWS) – According to CBS, Drivers are getting some relief at the pump, with the average price of a gallon of gas falling to its lowest level in more than four years, according to new data from GasBuddy, an app that helps drivers find deals on fuel.

Gas now costs $2.95 per gallon on average, down 8.5 cents over the last week and 5.4 cents lower than a year ago, the data shows. That marks the lowest price at the pump since May 2021, the company said.

AAA says the average price for a gallon of gasoline stands slightly higher, at about $3 as of Dec. 1, which it says represents savings of about 7 cents from last week.

GasBuddy said average prices have fallen in all 50 states in what it calls an “exceptionally rare and broad-based retreat.” The decline is due to strong refinery output an

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