Gas Prices Fall for 97 Straight Days, Americans Saved $14 Billion Filling Up This Year Compared to 2013
National average today: $2.26 a gallon.
Was $3.26 a gallon on October 5th according to gas buddy (Down $1 in less than 3 months)
Gasoline prices have fallen for 97 consecutive days, the longest streak on record, according to AAA.
The steep drop in oil costs since this summer has taken the average price at the pump around the U.S. to $2.26 per gallon, their lowest level since 2009. And gas could become even cheaper in 2015, with crude prices showing no immediate signs of rebounding, the transportation group said in a report.
AAA estimates Americans saved $14 billion on gas this year compared with 2013, which works out to $115 per household. That's about $15 to $30 every time consumers fill up at the tank. Consumers could save upwards of $75 billion next year if oil prices stay low.
Though that doesn't seem like big bucks, gasoline prices are closely correlated with consumer confidence, which has now reached pre-recession highs. Many economists expected a strong holiday season because people are buying more gifts with the money they are saving on gas.