Gas prices may drop below $2 before Christmas

This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.
Gas price sign July 27, 2015

Gas price sign July 27, 2015

DENVER —  More gas is flooding the market, outpacing demand, and that means that we could see prices tumble very soon.

Petroleum analysts are saying regular gas could average less than $2 a gallon in as many as 20 states before Christmas.

“Once we get past Labor Day, we should see gas falling by 10 to 15 cents a month,” Tom Kloza, chief oil analyst with the Oil Price Information Service, told CNN. “By December, a lot of places are going to see gasoline at $2 or less.”

If that’s not enough, they are even predicting the national average for regular unleaded gas will be $1.98 for the month of December.

Right now, the average price for a gallon of gas in Denver is $2.75. That’s just a couple cents cheaper than the state average at $2.77. Meanwhile, the national average is continuing to fall, now standing at $2.60.