Great news for American drivers!
According to AAA, for the first time since 2009, the national average price for a gallon of regular gas is expected to drop below $2.
AAA says that due to factors including a “bearish sentiment” on global petroleum prices and early winter declines in demand for gas, “pump prices are expected to move lower to close out the year, barring any unanticipated outages or supply disruptions.”
What it means for you
The national average for a gallon of regular gas was $2.12 on Thursday, down 8 cents from a week ago. AAA predicts that price will fall below $2 per gallon by Christmas, a low that hasn’t been reached since the start of the Great Recession.
Gas price-tracking site GasBuddy predicts even bigger, quicker drops in price — even before Christmas.
‘The situation looks so good that even our previous forecast for the national average to drop to $1.98 by Christmas is now looking quite conservative. Some of the cheapest stations in the nation could drop to $1.49/gallon by then, with the national average dropping into the $1.80s. It’s even possible that by Thanksgiving we could see a sub $2/gal national average.’