Gas prices expected to drop below $2 soon


Gas prices have been dropping — about 6% in the last month — and could get below $2 per gallon very soon.

Read more: 2 reasons to never use a debit card at a gas station

‘There will be thousands, even tens of thousands of stations below $2 by the time we’re into football season,’ Tom Kloza, chief oil analyst for the Oil Price Information Service, which tracks retail prices for AAA, told CNNMoney

The national average for a price of regular gas was about $2.59 Monday, according to AAA, and Kloza says prices should see a pretty ‘steep drop’ as the summer comes to an end.

Oil prices have also dropped drastically in the last month — about 16%. And while gas prices haven’t fallen as quickly — since stations sell a more expensive blend during the summertime (through September 15) — Kloza says American drivers should expect the price of a gallon of regular gas to get pretty low come the fall.

‘If you have these crude oil prices in the autumn, you’d be looking at prices 60 to 70 cents lower than today,’ he said.

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