For some, gasoline has fallen below $2


It’s official…gas is under $2 in Oklahoma on Dec. 3, 2014. (KFOR)

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NEW YORK  — Remember how excited you were when the price of gasoline dropped below $3.50 a gallon? Now, for a few lucky drivers, its price has fallen below $2 — in Oklahoma City.

The lowest gas in the nation could be found at the OnCue gas station on 44th and Shields in Oklahoma City. Regular gas was selling for just under $2 there on Wednesday. According to Tom Kloza, chief oil analyst for the Oil Price Information Service and, other parts of the nation will soon see similarly cheap gas prices.

Rural Virginia, Missouri, South Carolina, Texas and maybe New Mexico could be joining Oklahoma in having some gas prices drop below the $2 mark, he said. A smattering of gas prices below $2 could be seen in those states by the weekend.

The average price of gas in the U.S. is $2.74, according to

The average price of a gallon of self-serve regular gasoline in San Diego County dropped 1.2 cents Tuesday to $3.046, its lowest amount since Oct. 8, 2010.

“Wholesale gas is as cheap as it can get right now compared to crude oil,” said Kloza. “But I could see crude going down to $35 or $40 a barrel by next year if OPEC doesn’t do something to get prices up. If that happens, $2 gas will be common in a lot of places.”

Increased production in North America, slower consumption because of sluggish economies in Europe and Asia, more fuel efficient cars and a stronger dollar are all combining to send crude oil down its lowest point in more than six years.

CNN contributed to this report.

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