Plenty of oil leads to lower prices at the pump

In Florida, gas prices averaged $2.02 per gallon Monday and looked to dip below $2 this week, AAA said.

Drivers in 47 states can find at least one gas station charging under $2 per gallon, and the most common price for a gallon of regular around the country is $1.90. They say the cheaper prices saved Americans more than $100 billion on gas so far this year, equaling about $550.00 per licensed driver. There is $2.48 per gallon drop in gas prices compared to one year ago.

AAA estimated that almost two out of every three gas stations across the country are now selling gas for under $2 a gallon.

Anchorage- $2.24/g, down 1.3 cents per gallon from last week’s $2.26/g. The new low for the year comes as holiday travelers are hitting the road. “The annual requirement by the federal government calling for summer blend gasoline, that’s really what pushes up prices in the first quarter of every new year”. On Saturday, the national average price stood squarely at $2.000.

Ventura County’s average price – still well below last year’s figures – has gone up close to 13 cents in that time. The oil glut, created mostly by the large boost in USA oil production, has pushed oil to $34.50 a barrel.

The prices are lower because there’s a good supply of oil around the world, according to the travel company.

Oil prices are expected to be lower in 2016 because of the weakening demand of petroleum. He said if the gas prices weren’t so low the family of five would have stayed home. Generally, gas prices usually fall through early winter because many people tend to use less fuel this time of year.

Gas prices in South Florida typically run higher than the state and U.S averages because of higher taxes and higher costs for rent and other expenses.