Low Gas Prices a Gift for the New Year
12-28-2015
Gas prices have become the holiday gift that keeps on giving. For Christmas 2015, gas prices were at the lowest since Christmas 2008.
The U.S. national average for gasoline has dropped below $2 a gallon, the lowest prices since 2009.
Analysts expect that gas prices will remain relatively low for the months ahead as well. They are expected to stay in the $2 range.
AAA estimates that prices are down an average of 64 cents a gallon, reducing costs by $100 billion compared to 2014. The motorist group says that's saving each licensed U.S. driver $550.
Experts say that an excess supply of crude oil and a fall in demand is fueling the current drop in prices.
