Gas is less than $2 at more than HALF of U.S. stations
Gas for less than $2 a gallon is now available at most U.S. gas stations.
The percentage of stations with gas under two bucks now stands at 52%, according to the Oil Price Information Service, which tracks 130,000 gas stations for AAA.
The average price on a nationwide basis is slightly higher, at $2.10 a gallon, according to AAA. Prices have plunged about 46 cents a gallon in the last month and are down $1.21 a gallon in the last year.
The nationwide average is likely to fall below $2 next week for the first time in six years, according to Tom Kloza, chief oil analyst for OPIS and GasBuddy.com.
Some high priced states, such as New York, California and Hawaii inflate the U.S. average.
There are now 20 states with an average below $2 a gallon. Missouri has the lowest average price, at $1.74 a gallon.
It was just six weeks ago that a station in Oklahoma City became the first to dip below $2, but other stations quickly followed suit.
Weakening economies in Europe and Asia, as well as more fuel efficient vehicles, have all cut worldwide demand for gasoline. An increase in U.S. oil production, which made the nation the world’s largest source of crude last summer, has also pushed prices down, as has OPEC’s refusal to cut production. A strong dollar is also pushing prices lower.