US: Gas price could fall below $2
Here’s some good news for drivers in the United States: Gasoline could fall below $2 a gallon for many Americans later this year. The national average currently stands at $2.72 a gallon for regular gas, according to AAA, down 17 cents from the 2019 high in early May and down 7 cents in just the past week. “Pretty much every portion of the country should see drops between now and the end of next week,” said Tom Kloza, head of energy analysis for the Oil Price Information Service. That has made up for cuts in production by OPEC nations designed to support prices.
Gasoline prices have fallen fastest in parts of the country where $4 gas was the norm at the end of last month. America’s oil boom will break more records this year. OPEC is stuck in retreat”[Gas prices] should continue to fall as we move through the summer,” said Kloza. The national average price will probably decline even more — perhaps to $2.25 a gallon according to Kloza — later in the year.