Local Gas Prices Could Drop Below $2 By December

gas
Daniela Berson
WMAL.com

WASHINGTON — (WMAL) Gas prices in the D.C. metro area could dip to less than $2 per gallon by the end of the year.

According to a report by GasBuddy, if current trends in gas prices continue, the average price of gas in 20 states, including Virginia, will be less than $2 per gallon.

GasBuddy Petroleum Analyst Patrick DeHann said the study means less pain at the pump for consumers.

“The sizeable declines start in the middle to latter half of September,” DeHann said.

“The price of crude has declined $13 a barrel since the start of the summer. That’s providing big relief at the pump.”

DeHann expects an increase in savings if Iranian crude oil enters the global market, when sanctions on the country are lifted.

Iranian crude would add even more product to an already overflowing market.

Copyright 2015 by WMAL.com. All Rights Reserved.  (Photo: John Phelan, Wikimedia Commons)

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