While prices are expected to climb this spring, the days of $3 per gallon gas are not expected to return in 2016.
The New Year is off to an inexpensive start for drivers who are paying the lowest average for gas since March 25, 2009. Gas prices rang in the New Year at $1.997—the lowest average price for the holiday since 2009.
According to a report by AAA, an abundance of crude oil is helping keep prices down.
In 2015, consumers paid an annual average of $2.40 per gallon—the lowest annual average since 2009, according to AAA. And customers should continue to see savings in 2016, although retail averages are expected to grow leading up to the summer driving season as seasonal refinery maintenance begins in spring. AAA concluded that “barring any unanticipated events that dramatically impact global or domestic supply, the national average price is expected to remain below $3 per gallon in 2016.”
California currently has the highest average price for gas ($2.87) followed by Hawaii ($2.68), which is typically the market leader. Drivers in 34 states are paying averages below $2 per gallon. Missouri ($1.70) and Oklahoma ($1.73) are currently selling gas for less than South Carolina ($1.74), which boasted the country’s most inexpensive average gas price for most of 2015.
