Average gas price soon under $2, lowest since recession

Dec 12, 2015 3:24 PM by News Staff

DALLAS (AP) - Gasoline is close to breaking through a key psychological barrier as drivers enjoy some of the cheapest pump prices since the recession.

The nationwide average price of a gallon of regular Saturday was $2.02, down 58 cents from this time last year, according to auto club AAA. Experts say it could drop below $2 a gallon in the coming days.

According to data compiled by AAA and the Oil Price Information Service, drivers in about half of the states are already paying less than $2. South Carolina has the lowest average price at $1.79 a gallon. At the high end, Californians are paying $2.65 and Hawaiians are shelling out $2.76.

It's also shaping up to be a good winter for people who heat their homes with oil or natural gas.

The retail price of heating oil for December through February is expected to average $2.40 a gallon, down 18 percent compared with last year, according to the Energy Department. The price of natural gas for residential customers is expected to average $8.72 per 1,000 cubic feet, down 9 percent.

Copyright 2015 The Associated Press. All rights reserved.


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