Gas prices in the US dropped below $1 image

US gas prices have been on a steady downward slope lately and now you can even find a gallon selling well below 1 dollar.

Lack of demand and high supply of oil worldwide helped the drivers spend an average of 550 dollars less on fuel in 2015 compared to 2014, saving 115 billion dollars in total, said an AAA report at the beginning of the year. And is seems that Americans will continue to save on fuel this year as well, especially considering gas prices have continued to drop across the country, with some fuel stations selling a gallon under 1 dollar. According to, Michigan has become the first state where you can find such a bargain. To be more accurate, at the Beacon & Bridge Market in Houghton Lake one gallon of gas costs just 78 cents. And it is not the only location when you can fill your tank with cheap gas below the 1-dollar mark, as a price of just 95 cents was also posted at a Marathon Gas Station in Houghton Lake, according to GasBuddy.

AAA Michigan says the gas prices throughout Michigan have gradually gone down by around 13 cents in the past week and the average price for self-serve regular unleaded gasoline was about 1.74 dollars per gallon on Sunday. The only time that statewide fuel prices were even lower was back in 2009.

The US finished 2015 with gas prices averaging 2.40 dollars per gallon for regular, compared to 3.34 dollars in 2014 and 3.49 dollars in 2013. AAA forecasts that the trend will continue during 2016 and average gas prices will stay between 2.25 and 2.45 dollars.