We haven’t see this in a long while – gas prices under the $2 mark. Triple-A Nebraska spokesperson Rose White says it is $1.99 a gallon at a Cubby’s in Yutan . She says there are several reasons why gas prices keep dropping.
White says, “Crude inventories are up 3.6 million barrels. Crude oil supplies have risen now for ten consecutive weeks, up more 56 million barrels since mid-September. U.S. oil production is up to its highest level on record now producing 11.7 million barrels per day.”
White says that has caused crude oil prices to fall about $25 a barrel in those past ten weeks and is currently trading at $51 a barrel.
Gas prices in Nebraska have dropped 40-cents a gallon in the past month. The average price in Nebraska is $2.37 a gallon but is significantly lower in some communities. That is saving drivers about $6 every time they fill their tank compared to a month ago.