The nation is is experiencing the lowest fuel prices in six years, and the prices are expected to remain low into 2016.
As crude oil prices fall, so do gasoline prices. The average price for regular unleaded gasoline is currently at its lowest since 2009.
According to a report from AAA, the national average is only one cent away from dropping below $2 per gallon, and crude oil prices began the week of Dec. 14 at their lowest in five years.
The current average gas prices in the U.S. are 79 cents-per-gallon lower than their highest price in 2015.
The traditional U.S. benchmark for crude oil, West Texas Intermediate crude oil, ended the week of Dec. 7 at $35.62 per barrel, which is the lowest price since the 2008-2009 recession.
Global supply of crude oil continues to outpace demand, and this is expected to continue into 2016.
According to AAA, South Carolina, Missouri and Kansas boast the nation’s lowest gas prices at an average of $1.79 per gallon, and Hawaii is recording the nation’s highest prices at $2.75 per gallon.
