--- title: Get Used to Gas Prices Under $3 Per Gallon description: A new government report is forecasting that the average price for a gallon of regular gasoline in 2015 will be $2.94. 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: '2014-11-13T13:33:43.000Z' modified: '2024-04-16T04:43:41.000Z' section: Personal Finance tags: - Autos - driving - energy - Gas - Gas prices - Transportation word_count: 253 canonical: https://money.com/gas-prices-under-3-per-gallon/ 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/). ![changing gas price sign](https://img.money.com/2014/11/141113_em_gasprices.jpg?crop=0px%2C37px%2C1435px%2C808px&quality=85) It seemed like quite a big deal when the national average for gasoline dipped under $3 recently. The price of the average gallon of regular had started with a $3 from late December 2010 all the way until the beginning of November 2014, when at long last it dropped below the mark. The national average as of Thursday, according to [AAA](http://fuelgaugereport.aaa.com/), is $2.917, and some states, such as South Carolina and Tennessee, are averaging under $2.70. According to a report this week from the federal [Energy Information Administration](http://www.eia.gov/forecasts/steo/), it looks like sub-$3 gas prices will be sticking around for a while. The report projects that gas prices will keep declining through the end of the year, with a national average of $2.80 expected for December. And the average for 2015 as a whole is being forecast at $2.94 per gallon. The retail price of gasoline is tied to the wholesale price of crude oil, and due to bountiful supply and shrinking demand, the EIA is predicting that the cost of crude will average $77.75 per barrel next year, compared with $95 in 2014 and $97.91 in 2013. Accordingly, prices at the pump are expected to be cheaper in 2015—averaging $2.94, compared with $3.39 this year and $3.51 in 2013. If the forecasts hold up, by December the national average will have dropped 90¢ from the [2014 high](https://time.com/85916/could-it-be-gas-prices-may-have-already-peaked-for-2014/), and the 2015 average will be roughly 70¢ lower than that of 2012—when it was $3.63, the overall [most expensive year](http://business.time.com/2012/08/16/2012-is-back-on-pace-to-be-in-the-most-expensive-year-ever-for-gasoline/) (thus far) for gasoline. ```json { "@context": "https://schema.org", "@graph": [ { "@type": "BreadcrumbList", "@id": "https://money.com/gas-prices-under-3-per-gallon/#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": "Get Used to Gas Prices Under $3 Per Gallon" } ] }, { "@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-under-3-per-gallon/#webpage", "url": "https://money.com/gas-prices-under-3-per-gallon/", "name": "Get Used to Gas Prices Under $3 Per Gallon", "isPartOf": { "@id": "https://money.com/#website" }, "datePublished": "2014-11-13T13:33:43.000Z", "mainEntity": { "@id": "https://money.com/gas-prices-under-3-per-gallon/" }, "inLanguage": "en-US", "breadcrumb": { "@id": "https://money.com/gas-prices-under-3-per-gallon/#breadcrumb" }, "dateModified": "2024-04-16T04:43:41.000Z" }, { "@type": "Article", "headline": "Get Used to Gas Prices Under $3 Per Gallon", "articleSection": "Personal Finance", "image": [ { "@type": "ImageObject", "url": "https://img.money.com/2014/11/141113_em_gasprices.jpg?crop=0px%2C37px%2C1435px%2C808px&quality=85", "width": 1012, "height": 569, "caption": "141113_EM_GasPrices" } ], "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": "2014-11-13T13:33:43.000Z", "description": "A new government report is forecasting that the average price for a gallon of regular gasoline in 2015 will be $2.94.", "abstract": "A new government report is forecasting that the average price for a gallon of regular gasoline in 2015 will be $2.94.", "@id": "https://money.com/gas-prices-under-3-per-gallon/", "inLanguage": "en-US", "dateModified": "2024-04-16T04:43:41.000Z", "wordCount": 253, "keywords": [ "Autos", "driving", "energy", "Gas", "Gas prices", "Transportation" ], "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" ] } ] } ] } ```