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If you've filled your vehicle's gas tank recently, you've noticed the total hasn't been as high as it's been in the past, but why have gas prices fallen, how far will they go and how long will they stay that way?
Bloomberg Business reported this week that the reason the prices have been falling is there's too much oil flowing into the market. Extra oil, combined with slowing demand over December and January, caused prices to fall, or as Goldman Sachs called it, the oil crash.
So what does that mean for the average driver? Bloomberg said that experts claim the new average will be lower than it has been over the past 10 years.
Meanwhile, the Wall Street Journal reports, oil fell again Wednesday, finishing the day below $50 a barrel.
And it may not stop there. CNBC reported that their experts say the price for West Texas Intermediate crude oil could drop to the $30 range.
For investors that's not good news, but for commuters who need to fill the tank, it's great news that it won't cost as much to get to work.
Last month, CNBC experts predicted the average price per gallon would be $2.49 or about $1.10 less a gallon than last year.
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