Summer gas prices are the cheapest since 2004
Summer gas prices haven’t been this cheap since 2004, and there are growing signs they could slip even lower.
Cheap gas is being fueled by sub-$50 oil prices.
Another hidden force: a serious oversupply problem.
Despite being in the heart of summer driving season, the U.S. is sitting on 241 million barrels of gasoline in storage.
That’s the highest level for this time of the year since the government began tracking in 1990.
Nationwide, average gas prices dropped to $2.18 a gallon on Friday.
Cheap gas is being fueled by sub-$50 oil prices.
Another hidden force: a serious oversupply problem.
Despite being in the heart of summer driving season, the U.S. is sitting on 241 million barrels of gasoline in storage.
That’s the highest level for this time of the year since the government began tracking in 1990.
Nationwide, average gas prices dropped to $2.18 a gallon on Friday.