WASHINGTON, Dec. 15 (UPI) -- Falling demand, advancements in automotive efficiency and increased domestic production have caused drops in gas prices around the United States, with parts of the country paying less than $2.00 per gallon.
Alabama, Arizona, Colorado, Indiana, Mississippi, Missouri, Nebraska, New Mexico, Texas and Virginia all have fueling stations selling gas for under $2 per gallon, while Oklahoma, Louisiana and Ohio each have at least one pump selling gas for less than $1.90.
"By [Monday] more stations in the U.S. will be charging under $2.50 per gallon than over, a remarkable milestone," Patrick DeHaan, senior petroleum analyst with GasBuddy.com, told the media.
"In fact, as of Sunday evening, the number of states that saw at least one station at $1.99 or less had jumped to thirteen from just three a week ago ... As of midday Sunday, all 48 lower U.S. states saw averages under $3 a gallon, with New York being the last of the lower 48 to join. Motorists are saving $270 million dollars every day versus pump prices a year ago."
The nationwide average for gas is $2.55 per gallon.
Despite ongoing discoveries of new natural gas and oil reserves around the world, OPEC continues to refuse to cut production, as crude is trading at $58 per barrel, its lowest price since 2009.
"Wholesale gas is as cheap as it can get right now compared to crude oil," noted Tom Kloza, chief oil analyst for the Oil Price Information Service.
"But I could see crude going down to $35 or $40 a barrel by next year if OPEC doesn't do something to get prices up. If that happens, $2 gas will be common in a lot of places."
