Good News: Dipping US gas prices projected to reach $2 mark

September 11, 2015
A woman fills her car up with gas in Los Angeles on Sept. 10, 2015. (Park Sang-hyuk/Korea Times)

A woman fills her car up with gas in Los Angeles on Sept. 10, 2015. (Park Sang-hyuk/Korea Times)

By Brian Han

Pump prices around the U.S. are dipping below three dollars in some states and analysts predict it might keep moving in that direction.

Goldman Sachs slashed its forecasts from $57 a barrel to $47 a barrel in 2016, which should help keep up with the increased demand that comes naturally with falling prices.

The U.S. national average for a gallon of gas is currently at $2.38 according to AAA and Oil Price Information Service (OPIS) and it is projected that the cost may drop to $2.03 by the end of the year.

Even in California, which has seen roller coaster prices within the past year, average prices are falling despite refinery explosions and the implementation of the costlier “summer blend.”

Gas prices in Los Angeles County dropped to its lowest point at $3.413 since April 25 on Friday according to the AAA and OPIS. The Orange Country average is currently at $3.352.

The cost of gas for Southern Californian consumers is among the highest in the nation, but it is still a marked improvement from just a few months ago.

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