CHICAGO (Feb. 9, 2016)-The cheapest gasoline prices in over twelve years are showing up in some lucky states in the heart of the nation, with previously unthinkable 99-cent gasoline becoming a strong possibility as wholesale gas prices plunge amidst growing supply, according to a press release from GasBuddy.
GasBuddy reports that nine states in the nation are currently witnessing the lowest average gasoline prices since early 2004: Oklahoma ($1.37), Indiana ($1.46), Kansas ($1.46), Ohio ($1.48), Michigan ($1.49), Minnesota ($1.52), Wisconsin ($1.54), Illinois ($1.57) and North Dakota ($1.63) as oil refiners offer bargain basement prices to rid themselves of winter-spec gasoline ahead of a pending shift to cleaner burning fuel.
Even Chicagos notoriously high gas prices stand a record 8-cents per gallon under the national average and have spent a record twelve consecutive days under the national average, a testament to the oversupplied status of winter-spec gasoline seen throughout the region.
As gasoline supply continues to bulge, prices continue to shrink, says Patrick DeHaan, senior petroleum analyst for GasBuddy. Wholesale gasoline prices in the Midwest have lost more than half of their value since the beginning of the year and prices at the pump haven’t fully reflected that yet. Incredible as it sounds, we wouldnt be shocked to see a few stations in these states as low as 99 cents a gallon.
Right now gasbuddy.com is reporting that gas in Racine is currently going for $1.39 per gallon. To see the prices in your area please visit GASBUDDY.COM