National gas prices dip below $2 a gallon

Gas stations have an early Christmas present for American road-trippers. With gas becoming cheaper by the day, the national average has officially slipped below $2 a gallon for the first time in more than six years.

The milestone reflects a long slump in oil prices that has brought significant savings at the pump. According to AAA data, Monday’s average is 41 cents cheaper than the same day a year ago. Americans have saved more than $115 billion on gas this year, or $550 for every licensed driver.

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“The best news of all is that there is room for prices to drop even more in the coming weeks,” AAA President and CEO Marshall Doney said in a statement.

AAA said Monday it estimated a U.S. average of $1.998 a gallon, the first glimpse of sub-$2 gas since March 25, 2009. Two-thirds of all gas stations in the country are now selling gas for $1.99 a gallon or less, and the most popular price is $1.899 a gallon.

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