Government Says Gas Prices Will Remain At Record Lows In 2015
It sure has been a lot more fun to fill up at the pump lately! Gas prices continue to plumet here in the corridor. I saw one station at $2.26 a gallon yesterday! Some places in the U.S. are already under $2 a gallon! Why the price drop? Oil prices for one. The U.S. increased their production, and demand is way down worldwide. That leads to low oil prices, now below $60 a barrel. But how long will the savings last?
According to the latest government forecast, 2015 should see you saving between $500-$600 on your gas bill compared to one year ago. They say the average price of gas for 2015 will be around $2.60 per gallon. That would be the lowest average price in a decade!
Don't go out and buy an S.U.V. to celebrate just yet. If history has taught us anything, it's that trends like this have a way of reversing themselves.