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# Falling Gas Prices: Driving Gets Cheaper, But Not Flying

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<!-- video src="https://cdn.jwplayer.com/manifests/MY1N4jjI.m3u8" -->
## Video: Falling Gas Prices: Driving Gets Cheaper, But Not Flying

[Watch (HLS stream): Falling Gas Prices: Driving Gets Cheaper, But Not Flying](https://cdn.jwplayer.com/manifests/MY1N4jjI.m3u8) (1:34)

![Falling Gas Prices: Driving Gets Cheaper, But Not Flying](https://cdn.jwplayer.com/v2/media/MY1N4jjI/poster.jpg?width=720)

_Published 2014-11-19. The drop in prices — as “Big Oil” tries to deal with a glut in supply that significantly outpaced demand — means Americans have been enjoying the prices at the pump._


---

Jul 27, 2023 5:32 PM UTC

---

## More From This Series

[All Videos](https://time.com/video/)

[How the Iran war is driving up gas prices ](/video/eaVtz4gW/)

### How the Iran war is driving up gas prices

[Crude Oil Prices Expected to Spike as Supply Falls](/video/AEPcj3Ja/)

### Crude Oil Prices Expected to Spike as Supply Falls

[Why Gas Prices are at Lowest in 4 Years](/video/E6FNkVX8/)

### Why Gas Prices are at Lowest in 4 Years

---


## Transcript

Say so long to the threes in your gas prices, America, at least the national average of more than $ 3 a gallon. The drop in prices as big oil tries to deal with a glut in supply that significantly outpaced demand. Means Americans have been enjoying the oft used and alliterative, price at the pump. Consider this, when the national average dropped to $ 2. 99 a gallon on November 1st, Triple A reported that broke the streak of 1, 409 consecutive days above the $ 3 mark. A senior analyst from Wells Fargo told USA Today every ten cent decline in the price of gas pumps about $ 3 billion into consumers' wallets for other goods and services.

Based on the fuel prices you might expect the cost of a plane ticket to come down, but think again. While jet fuel prices have dropped about 17 percent year over year, NBC reports airlines have made it more expensive to fly. Industry analysts say the fuel savings are getting re- invested into infrastructure improvements like. Terminals, wi- fi and new planes. So perhaps it is time for that nice, cheap electric car road trip, if you can afford an electric car in the first place, of course, and if you can keep it charged for long enough. 2014 was an excellent year for electric car sales, with Wall Street Cheat Sheet reporting sales were up 48 % the first half of the year.

And, tracking site, InsideEVs showing month to month sales beat 2013's numbers all the way until October. But, for the rest of us headed to the pumps, at least gas prices aren't pushing our buttons as much, for now.

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