KANSAS CITY, Mo. — It’s the gift that keeps on giving. Gas prices are dropping, a trend that will continue into 2015.
“It’s like a relief,” said driver Destiny Weaver.
There’s no stopping the downward spiral. Weaver will be driving into the new year with a little more ease.
“I’m saving money I’m ready to spend because I’m saving,” Weaver explained.
There’s a reason for the drastic drop in prices: More domestic crude oil being produced in the United States.
“So when we use our own crude oil instead buying crude oil in the open market, it’s pushing that crude oil back into the world market and it decreases price,” said Steve Mosby, supply manager of ADMO Energy LLC. The company distributes services for wholesale uses of gasoline for places like convenience stores.
Consumers used to empty their pockets at the pump, but now that money is being saved. If you drive in Missouri, you’re spending $1.90 a gallon on average, the lowest in the country, but that will change in a few months.
“You can see another 25 to 30 cents opportunity for gas to get a little lower just yet,” said Mosby.
When oil is cheap, the economy benefits.
“When you talk about a decrease of gasoline prices by a nickel, you’re talking about millions of dollars in the consumers’ pockets every day money gets spent,” said Mosby,
That’s what Weaver intends to do. It used to take $60 to fill up her tank, but now a single twenty dollar bill will do. And that extra money?
“Insurance, other things with my car and things that will keep me on track,” said Weaver.
2015 is shaping up to be a good year if you’re a driver. Mosby says prices will bottom out around $1.70. Prices will start to climb up around the spring time.
