The substantial increase in U.S. oil production is expected to offset any concerns about instability in foreign producers and keep gas prices low, AAA said. AAA reported a national average price for a gallon of gasoline Tuesday of $2.97, down 33 cents from one month ago. Nearly half of all U.S. states are recording average prices below the $3 mark, the first time that’s happened in nearly four years. The motor club said in a weekly price report the price at the time is a reflection of a North American oil market able to provide a buffer against violence in Iraq and Eastern Europe. “Abundant global oil production, particularly the substantial increases to U.S. production, continues to outweigh any concerns of […]