Oil and Gas

Gas dips below $2 a gallon in Oklahoma City

Drivers in Oklahoma can now buy gas for just $1.99 per gallon.

The OnCue Express in Oklahoma City dropped its gas price by 12 cents to $1.99 per gallon on Wednesday, making it the cheapest gas station in the country, according to GasBuddy.

It's the first time in four years that a U.S. station has offered gas for less than $2 per gallon.

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As of Wednesday afternoon, the national average stood at $2.75 per gallon, which is the lowest average since Oct. 5, 2010, according to AAA.

"Gas prices have fallen at a remarkable pace that would have been unthinkable just a few months ago," AAA spokesman, Avery Ash, said Wednesday. "Lower gas prices represent real doorbuster savings as everyone begins their holiday shopping."

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Ash said the country could see prices drop to the lowest levels since the Great Recession if the cost of crude oil continues to set multiyear lows.

However, crude oil prices would have to drop an additional $25-$30 a barrel for the national average price of gasoline to fall below $2, AAA said.

According Gasbuddy, the national average could slip into the $2.50s by Dec. 25 and certain states, including Texas, South Carolina, and Missouri, are expected to offer gas for less than $2 a gallon soon.

States with the lowest average gas prices

Missouri ($2.44)

Mississippi ($2.51)

South Carolina ($2.51)

Texas ($2.52)

Oklahoma ($2.53)

States with the highest average gas prices

Hawaii ($3.85)

Alaska ($3.50)

New York ($3.15)

Connecticut ($3.09)

California ($3.04)