The price of oil is the lowest it’s been since 2009, just above $40 per barrel at the close on Friday. That could translate to big savings at the gas pump. Experts are predicting that gas prices could dip below $2 a gallon in many parts of the U.S.
On August 24, AAA listed the average price of a gallon of regular gas at $2.59 nationwide. That’s more than 80 cents cheaper than a year ago. An oil analyst says most of the U.S. can expect prices to continue dropping as demand eases and refineries take care of maintenance issues and switch to cheaper winter grades of fuel.
The average price per gallon in Virginia is considerably lower, currently at $2.29, compared to $3.20 a year ago.