--- description: The average price of U.S. gas has recently reached $2.72 a gallon, the lowest it's been in four years. title: Why Gas Prices Are At Lowest Point in 4 Years image: https://static.time.com/v3/assets/bltea6093859af6183b/blt4f2320c3638387f6/69876d4df887dc1579e88ddb/krn1208_gif1.gif?branch=production&width=750&quality=75&auto=webp&crop=16:9 ---  * [Business](/section/business/) ## Business Update your preferences in [Account Settings](/account/preferences/) Close * [Know Right Now](/tag/know-right-now/) ## Know Right Now Update your preferences in [Account Settings](/account/preferences/) Close # Know Right Now: Why Gas Prices Are at the Lowest Point in 4 Years by [TIME Video](/author/time-video/) ## TIME Video Update your preferences in [Account Settings](/account/preferences/) Close Dec 8, 2014 4:06 PM CUT  by [TIME Video](/author/time-video/) ## TIME Video Update your preferences in [Account Settings](/account/preferences/) Close Dec 8, 2014 4:06 PM CUT American drivers may have noticed a smaller bill at the pump recently– that’s because the average price of U.S. regular gas has recently reached $2.72 a gallon, the lowest it’s been in four years. In the last two weeks alone, the average price has dropped 12 cents. But what is the reason for these dropping prices? Watch this video to find out what’s causing the cheaper fuel, and where you can find the most affordable gas in the country. ```json [{"@context":"https://schema.org","@type":"NewsArticle","@id":"https://time.com/3623349/know-right-now-gas-prices-lowest-4-years-cheap-pump/","mainEntityOfPage":{"@type":"WebPage","@id":"https://time.com/3623349/know-right-now-gas-prices-lowest-4-years-cheap-pump/"},"headline":"Know Right Now: Why Gas Prices Are at the Lowest Point in 4 Years","datePublished":"2014-12-08T16:06:46.000Z","dateModified":"2026-02-22T02:39:16.241Z","description":"Gas prices have dropped significantly for Americans, and several factors are driving the change in prices","url":"https://time.com/3623349/know-right-now-gas-prices-lowest-4-years-cheap-pump/","keywords":["Know Right Now","Economy","Oil","fracking","Gas","prices"],"thumbnailUrl":"https://static.time.com/v3/assets/bltea6093859af6183b/blt4f2320c3638387f6/69876d4df887dc1579e88ddb/krn1208_gif1.gif?branch=production&width=1200&quality=75&auto=webp&crop=1200:675&height=675","author":[{"@type":"Person","name":"TIME Video","jobTitle":null,"url":"https://time.com/author/time-video/"}],"articleSection":"Business","image":[{"@type":"ImageObject","url":"https://static.time.com/v3/assets/bltea6093859af6183b/blt4f2320c3638387f6/69876d4df887dc1579e88ddb/krn1208_gif1.gif?branch=production&width=1200&quality=75&auto=webp&crop=1200:675&height=675","width":1200,"height":675,"headline":"Know Right Now","caption":"","creditText":"","representativeOfPage":true}],"publisher":{"@type":"Organization","name":"Time","url":"https://time.com/","logo":{"@type":"ImageObject","url":"https://time.com/images/logo.png","width":528,"height":156},"foundingDate":"March 3, 1923","sameAs":["https://www.facebook.com/time","https://www.instagram.com/time/?hl=en","https://twitter.com/time","https://www.pinterest.com/timemagazine"]}},{"@context":"https://schema.org","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"item":{"@id":"/section/business/","name":"Business"}},{"@type":"ListItem","position":2,"item":{"@id":"/tag/know-right-now/","name":"Know Right Now"}},{"@type":"ListItem","position":3,"item":{"@id":"https://time.com/3623349/know-right-now-gas-prices-lowest-4-years-cheap-pump/","name":"Know Right Now: Why Gas Prices Are at the Lowest Point in 4 Years"}}]}] ```