Gasoline Prices Have Fallen 88 Days Straight
Tuesday, December 23rd, 2014 -- 8:22 AM
(Milwaukee Journal Sentinel) -Gasoline prices have fallen the past 88 days in a row as of Monday, the longest such streak on record, automotive travel group AAA said.The average price for a gallon of regular stood at $2.39 on Monday, AAA said. In Wisconsin, the average price mirrored the national average at $2.38. Average prices fell below $2 at some spots in the United States, including Kansas City, Mo., and Tulsa, Okla., according to AAA. Gas prices have fallen every day since Sept. 25, the organization said.
Motorists in the U.S. on average are paying 43 cents a gallon less than a month ago and 85 cents less than a year ago. Add it all up and consumers are saving more than $450 million a day on gasoline compared with the highs reached earlier this year, AAA said.
The lower fuel prices are due to the supply of crude oil around the world exceeding demand. Global oil demand is being driven lower by lethargic economies in Europe and Japan as well as signs that China's economy has been slowing.
The average U.S. household is expected to spend about $550 less on gasoline in 2015 compared with 2014, the federal Energy Information Administration is forecasting.
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