--- description: Here's the reason you're paying less at the pump title: Here's Why Gas Has Gotten So Cheap image: https://static.time.com/v3/assets/bltea6093859af6183b/bltb80ef7d7c030d040/69876f16e20a870c28a840d2/1220619521.jpg?branch=production&width=3840&quality=75&auto=webp&crop=16:9 ---  * [Business](/section/business/) ## Business Update your preferences in [Account Settings](/account/preferences/) Close * [Economy](/tag/economy/) ## Economy Update your preferences in [Account Settings](/account/preferences/) Close # #TheBrief: Why Gas Prices Are Falling by [TIME Video](/author/time-video/) ## TIME Video Update your preferences in [Account Settings](/account/preferences/) Close Dec 16, 2014 7:42 PM CUT  Oil rig pump at sunset Oil rig pump at sunsetFotopic—Getty Images by [TIME Video](/author/time-video/) ## TIME Video Update your preferences in [Account Settings](/account/preferences/) Close Dec 16, 2014 7:42 PM CUT You may have noticed a lower number on your gas station receipts. The average price of gas in the U.S. is now $2.55 per gallon, the lowest it’s been since 2009\. We’re told to never question a good thing, but why are these prices falling? Watch _The Brief_ to find out why you’re spending less than usual at the pump. ```json [{"@context":"https://schema.org","@type":"NewsArticle","@id":"https://time.com/3635908/gas-prices-oil-cost-of-gas/","mainEntityOfPage":{"@type":"WebPage","@id":"https://time.com/3635908/gas-prices-oil-cost-of-gas/"},"headline":"#TheBrief: Why Gas Prices Are Falling","datePublished":"2014-12-16T19:42:36.000Z","dateModified":"2026-02-22T02:54:09.241Z","description":"The reason you're paying less at the pump","url":"https://time.com/3635908/gas-prices-oil-cost-of-gas/","keywords":["Economy","Oil","fracking","Gas","prices","The Brief"],"thumbnailUrl":"https://static.time.com/v3/assets/bltea6093859af6183b/bltb80ef7d7c030d040/69876f16e20a870c28a840d2/1220619521.jpg?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/bltb80ef7d7c030d040/69876f16e20a870c28a840d2/1220619521.jpg?branch=production&width=1200&quality=75&auto=webp&crop=1200:675&height=675","width":1200,"height":675,"headline":"Oil rig pump at sunset","caption":"Oil rig pump at sunset","creditText":"Fotopic—Getty Images","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/economy/","name":"Economy"}},{"@type":"ListItem","position":3,"item":{"@id":"https://time.com/3635908/gas-prices-oil-cost-of-gas/","name":"#TheBrief: Why Gas Prices Are Falling"}}]}] ```