--- title: $1.50 Gas Prices Are Here—and $1 Per Gallon Could Be Next description: The national average for gas is nearly $2 per gallon, and some stations are already charging less than $1.50 per gallon. authors: - name: Brad Tuttle role: Senior Editor url: https://money.com/author/brad-tuttle/ bio: Brad Tuttle is a former senior editor at Money with over 10 years’ experience covering a vast number of personal finance topics, including careers, cars, travel, budgeting, investing, insurance, credit cards, consumer psychology, real estate, banking, and shopping and deals. education: Columbia University School of Journalism, MS at_money_since: 2014 articles: 366 covers: - Personal Finance - Banking - Business - Career Advice - Credit - Credit Cards - Economy and Politics - Education - Health and Wellness - Housing - Identity Theft - Insurance - Investing - Lifestyle - Loans - Mortgages - Pets - Professional Services - Retirement - Shopping - Taxes - Technology social: - https://twitter.com/bradrtuttle - https://linkedin.com/in/brad-tuttle-834b225 former_staff: true published: '2015-11-30T20:00:25.000Z' modified: '2024-04-16T09:10:58.000Z' section: Personal Finance tags: - Autos - fuel costs - Gas - Gas prices - gasoline word_count: 394 canonical: https://money.com/gas-prices-1-50-per-gallon-cheap/ type: Article source: structured-blocks --- > **Disclosure:** We research all brands listed and may earn a fee from our partners. Research and financial considerations may influence how brands are displayed. Not all brands are included. [Learn more](https://money.com/page/disclaimer/). ![gas pump](https://img.money.com/2015/11/151130_em_cheapestgas.jpg) Gas prices are plunging around the country, with the national average falling in 24 out of the past 30 days, according to [AAA](http://fuelgaugereport.aaa.com/with-thanksgiving-in-the-rearview-national-average-eyes-2-mark/). The price of a gallon of regular now stands at $2.04 nationally, down 14¢ compared to one month ago and 74¢ lower than this time last year. In early 2015, the national average [dropped near the $2 mark](https://money.com/cheap-gas-price-factoids/) but never crossed it. But AAA and others anticipate that we'll dip below the $2 threshold within a matter of days. Many gas stations are already well below that watermark. "Nearly two-thirds of the nation's 130,000 gas stations now are selling that gasoline for under $2/gallon, a remarkable change from a year ago, when 0% of stations were under $2," [GasBuddy reported](https://blog.gasbuddy.com/posts/National-Average-Moves-Lower-Eyes-on-OPEC/1715-631908-3418.aspx) this week. Drivers in Michigan, Missouri, and Ohio are paying the nation's lowest prices, with averages of about $1.80 to $1.82 per gallon. At the same time, gas stations in pricier states are keeping the average above $2 for the time being. In some extraordinary cases, the price of a gallon of regular is much lower than that—like under $1.50. Several gas stations in parts of Texas are posting prices of $1.40 to $1.45 per gallon, according to [GasBuddy](http://www.gasbuddy.com/). [CNN reported](http://money.cnn.com/2015/11/30/news/economy/cheapest-gas/) on Monday that the nation's cheapest gas is being pumped out of a Sam's Club gas station in Lafayette, Indiana, where a gallon of regular costs an astonishingly cheap $1.39. Prices are likely to get cheaper still, as earlier forecasts have called for fuel costs to keep dropping at least through the end of the year. Last week, a [24/7 Wall St. story](http://247wallst.com/energy-economy/2015/11/23/the-case-for-1-gas/) noted that a range of factors, including increased oil refinery output, low gas taxes, and cheap oil prices due to a global surplus, "could drive the price toward $1 in some states." Drivers in the Midwest and Gulf states are the ones most likely to see gas prices continue to plunge and perhaps even reach the $1 mark in the weeks and months ahead. But no matter where you live, gas prices have gotten much cheaper this fall. For example, a gallon of regular is $2.38 today in Alaska, on average, compared to $3.51 a year ago. The average per-gallon price in California is now $2.70, down more than $1 [compared to July](https://money.com/gas-prices-increase-california/). **Read Next: [What It Costs to Be Uninsured and Get Hit By a Train](https://money.com/uninsured-health-cost-emergency/)** ```json { "@context": "https://schema.org", "@graph": [ { "@type": "BreadcrumbList", "@id": "https://money.com/gas-prices-1-50-per-gallon-cheap/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://money.com" }, { "@type": "ListItem", "position": 2, "name": "Personal Finance", "item": "https://money.com/personal-finance/" }, { "@type": "ListItem", "position": 3, "name": "Budgeting", "item": "https://money.com/budgeting/" }, { "@type": "ListItem", "position": 4, "name": "$1.50 Gas Prices Are Here—and $1 Per Gallon Could Be Next" } ] }, { "@type": "WebSite", "@id": "https://money.com/#website", "url": "https://money.com", "name": "Money", "publisher": { "@id": "https://money.com/#organization" } }, { "@type": "WebPage", "@id": "https://money.com/gas-prices-1-50-per-gallon-cheap/#webpage", "url": "https://money.com/gas-prices-1-50-per-gallon-cheap/", "name": "$1.50 Gas Prices Are Here—and $1 Per Gallon Could Be Next", "isPartOf": { "@id": "https://money.com/#website" }, "datePublished": "2015-11-30T20:00:25.000Z", "mainEntity": { "@id": "https://money.com/gas-prices-1-50-per-gallon-cheap/" }, "inLanguage": "en-US", "breadcrumb": { "@id": "https://money.com/gas-prices-1-50-per-gallon-cheap/#breadcrumb" }, "dateModified": "2024-04-16T09:10:58.000Z" }, { "@type": "Article", "headline": "$1.50 Gas Prices Are Here—and $1 Per Gallon Could Be Next", "articleSection": "Personal Finance", "image": [ { "@type": "ImageObject", "url": "https://img.money.com/2015/11/151130_em_cheapestgas.jpg", "width": 2100, "height": 1400, "caption": "151130_EM_CheapestGas" } ], "author": [ { "@type": "Person", "name": "Brad Tuttle", "url": "https://money.com/author/brad-tuttle/", "@id": "https://money.com/author/brad-tuttle/#author", "description": "Brad Tuttle is a former senior editor at Money with over 10 years’ experience covering a vast number of personal finance topics, including careers, cars, travel, budgeting, investing, insurance, credit cards, consumer psychology, real estate, banking, and shopping and deals.\r\n\r\n", "image": "https://img.money.com/2014/01/Brad-Tuttle.png?w=226&h=247&crop=1", "alumniOf": "Columbia University School of Journalism, MS", "sameAs": [ "https://twitter.com/bradrtuttle", "https://linkedin.com/in/brad-tuttle-834b225" ] } ], "publisher": "https://money.com/#organization", "datePublished": "2015-11-30T20:00:25.000Z", "description": "The national average for gas is nearly $2 per gallon, and some stations are already charging less than $1.50 per gallon.", "abstract": "The national average for gas is nearly $2 per gallon, and some stations are already charging less than $1.50 per gallon.", "@id": "https://money.com/gas-prices-1-50-per-gallon-cheap/", "inLanguage": "en-US", "dateModified": "2024-04-16T09:10:58.000Z", "wordCount": 394, "keywords": [ "Autos", "fuel costs", "Gas", "Gas prices", "gasoline" ], "about": [ { "@type": "Thing", "name": "Personal finance", "sameAs": [ "https://en.wikipedia.org/wiki/Personal_finance" ] }, { "@type": "Thing", "name": "Budget", "sameAs": [ "https://en.wikipedia.org/wiki/Budget" ] } ] } ] } ```