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Gas Currently Costs Less Than $2 per Gallon in 9 States

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2018 wraps up with lower gas prices than consumers experienced during the end of either 2016 or 2017

Why Did Gas Prices Go Down?

Gas that costs less than $2 per gallon is surely a sight for sore eyes
Photo: Mike Mozart via CC

Just a few months ago, the idea of gas costing less than $2 a gallon would have been seen as ludicrous, but this is now the case in a whopping nine states, according to AAA.

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Those lucky states include Missouri, Oklahoma, Arkansas, South Carolina, Texas, Alabama, Mississippi, Louisiana, and Kansas. Gas in Missouri is the least expensive, with an average cost of just $1.87 per gallon. The national average cost of a gallon of gas currently sits at $2.30. That is less expensive than the average cost of gas at the end of 2016 and 2017.

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In just one month, gas prices have fallen by 24 cents. Ohio and Indiana have experienced the largest weekly decreases at 15 cents each. But gas remains pricier in certain regions of the country: $3.41 per gallon in Hawaii and $3.38 in California.

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These super-low gas prices might not stick around for long. OPEC is set to initiate production cuts staring Jan. 1. The organization’s hope is to push the price of oil slightly higher, which will in turn cause gas prices to rise.

“All eyes are on OPEC to kick off the year,” said Jeanette Casselano, AAA spokesperson. “Many are waiting to see if they stick to their promise to cut crude production by 1.2-million b/d and if the proposed cuts will be enough to restore balance to the market.”

Until then, you might want to schedule a stop at your local gas station to fill up your tank before these incredible gas prices officially disappear from the market.

Source: AAA