The average price of gas dipped below $2 per gallon this week, a level it hasn’t seen in almost seven years, according to the Energy Information Administration.
The Department of Energy’s independent analysis arm reported that the Jan. 11 weekly survey of U.S. gas prices showed the average price of gasoline is now $1.996 per gallon. The last time the price fell below $2 was March 23, 2009.
The average gas price in the Midwest, Gulf Coast, East Coast and Rocky Mountain region of the country are all below $2 per gallon. The West Coast is higher, at $2.63 cents per gallon.
The decrease in gas prices is following a similar decrease in oil prices, which have dipped below $30 per barrel multiple times this week.
The federal analysts expect gas prices to keep dropping for at least another month. The Energy Information Administration expects the average price of gasoline to reach a seven-year low of $1.90 per gallon in February before rising again in April.
Gas prices are expected to remain low throughout 2016, hovering around $2.03 per gallon.
