Government slashing prediction for average gas price in 2015

Posted at 6:49 AM, Dec 10, 2014
and last updated 2015-12-05 06:35:25-05

The Energy Department has again slashed its prediction for next year's average price of gasoline across the U.S., this time to $2.60 a gallon.

That's 23 percent below the projected average for this year and the lowest since 2009.

If that comes to pass, the price drop will save U.S. drivers $100 billion over the course of the year.

In its most recent short-term energy outlook, released Tuesday, the Energy Department cut its gasoline price forecast for 2015 by 35 cents a gallon. It was the second cut of more than 30 cents a gallon in two months.

The average national price of gasoline fell to $2.66 a gallon Tuesday, according to AAA, 61 cents less than last year. The national average has fallen every day since September 26.

The average price for a gallon of regular gas is not falling as fast in New York state, and especially Western New York. According to AAA, the average price in New York state is $3.07. Western New Yorkers can expect to pay around $3.13.