Gas Buddy: Price At The Pump In ‘Free Fall’
Vehicles line up to take advantage of low gas prices at the Fuel City gas station in Dallas (AP Photo/LM Otero)
A petroleum analyst expects the large drop in gas prices to continue, a figure that's already fallen 15.1 cents in the past week.
Gregg Laskoski with the price tracking website Gas Buddy.com says benchmark crude is now priced at about $55 a barrel.
He says to put things in perspective, it was at $74 a barrel on Thanksgiving.
“We have to believe that gasoline prices are going to continue to decline," he said. "And that’s why we’re seeing the dramatic decreases that we see week after week. We have the national average right now at $2.52 a gallon. That’s down by 13 cents a gallon just in the past week.”
Laskoski says a majority of gas stations across the US are charging under $2.50 a gallon.
Over the weekend, it dipped to a $1.99 in parts of 13 states, including Indiana.
Currently around Champaign-Urbana, the price per gallon ranges from $2.25 to just over $2.30 a gallon.