Gas Prices In The US Are The Lowest They’ve Been Since Early 2009 As A Global Oil Glut Shows No Sign Of Ending
The following is an excerpt from ANGELO YOUNG | December 21, 2015 | ibtimes.com |
The world is awash in so much crude oil that it's running out of places to put it. But one upside for U.S. consumers has been gasoline prices, which dropped below $2 per gallon over the weekend just as Americans headed into one of the busiest road-tripping seasons of the year.
The national average price at the pump fell to $1.999 per gallon on Saturday afternoon, down from $2.44 this time last year, according to price-tracker GasBuddy. Even in the more costly regions of the country, such as New York and Washington State, a gallon of gas is well below $3. California is the only state where the average is above $2.50 right now.
For more visit: ibtimes.com