2 gasoline fuels wins for drivers

first_imgGasoline prices dipped below $2 a gallon earlier this month at lower-priced gas stations in Clark County and were as low as $1.88 a gallon as of Friday, according to the website washingtongasprices.com.NEW YORK — At some point this will end, perhaps even soon. The price of gasoline will not fall to zero. But for the first time since 2009, most Americans are paying less than $2 a gallon. Just three months ago, experts were shocked when it fell under $3.“It’s crazy,” says Michael Noel, an economics professor at Texas Tech University who studies oil and gasoline prices. “But for consumers, it’s very, very good.”Consumers and the economies of the U.S. and most of the rest of the world are basking in the lowest prices for crude oil and gasoline in six years. U.S. crude oil traded Friday just below $46 a barrel and the average price for a gallon of gas was $2.04.While there are some losers, such as oil companies, the oil-producing states and the oil-exporting countries that benefited from $100 a barrel for four straight years, most economists agree that the good outweighs the bad.last_img

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