Gas Prices Are Already Back Under $2 a Gallon in 32 States

According to AAA, there's only one state in the country where the average price for a gallon of regular is under $2. That would be South Carolina, which is averaging $1.96 as of Tuesday.

But as the gas price-tracking site GasBuddy noted, there are gas stations in more than half the states in the nation that are currently charging less than $2. Drivers have reported sub-$2 gas prices lately in no fewer than 32 states, GasBuddy reported, including every state in the Southeast, plus much of the Midwest and a few locations in the Northeast and Southeast.

Gas prices have declined nationally every day over the past three weeks, with the result being that the current average of $2.27 is 50¢ cheaper than it was at the same time in 2015. In fact, it's been more than a decade since gas prices were this cheap at this time of year.

Drivers are benefitting from cheaper prices even in states where prices remain far above $2 per gallon. "Looking at a year ago, gas prices remain lower in all 50 states," GasBuddy stated in a blog post. "Alaska motorists are seeing the biggest year-on-year savings at 84.5 cents, while Indiana is 68.6 cents lower, Utah 64.8 cents, Nevada 62.9 cents and Michigan 61.7 cents."

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Analysts are forecasting for gas prices to keep retreating into late summer and autumn. So in all likelihood, sub-$2 gas will not be limited to a sprinkling of gas stations here and there. Predictions are calling for a national average below $2 by November if not sooner, meaning that about the time people are gearing up for serious Christmas shopping, it will probably be unusual to see gas prices above $2 a gallon in much of the country.