U.S. gas prices are on the verge of dropping below $2 per gallon, much to the pleasure of drivers everywhere.
An average gallon of regular unleaded fell to $2.05 Wednesday, more than a $1.20 cheaper than a year ago, according to AAA.
Earlier this week, AAA said that the price could drop below $2 per gallon before the end of January. The average is already under $2 in more than half of the U.S., with the cheapest gas in Missouri at $1.77 per gallon. Hawaii’s gas is the most expensive, at $3.31 per gallon, followed by $2.81 in Alaska.
Prices have dropped for a record 118 consecutive days, driven by plunging oil prices. Increased output from countries such as the U.S. as well as lower oil consumption in Europe and Asia has created a worldwide glut of crude.
Last year, those falling costs at the pump helped Americans save roughly $14 billion, AAA said. They are on track to save more this year as long as prices stay low.
This article originally appeared on Fortune.com
- Climate-Conscious Architects Want Europe To Build Less
- The Red-State Governor Who's Not Afraid to Be 'Woke'
- Jonathan Van Ness: We Are Still Not Taking Monkeypox Seriously Enough
- The Not-So-Romantic Return of Europe's Sleeper Trains
- This Filmmaker Set Out To Record Her Family’s Journey Rebuilding Afghanistan. Her Work Is a Reminder of What’s at Stake
- Why Sunscreen Ingredients Need More Safety Data
- What Historians Think of the Joe Biden-Jimmy Carter Comparisons
- Author Mimi Zhu Is Relearning What It Means to Love After Trauma