SAN FRANCISCO (KPIX 5) — Gas prices could drop to levels not seen since 2007, according to analysts at GasBuddy.com.
Analysts predict prices in California could fall to about $2.50 per gallon or lower by the end of 2015.
Other states could see prices below $2.00 per gallon.
“Last year the national average shed more than $1.27 from August 1 through December 31 when the U.S. average was $2.24,”said Patrick DeHaan, senior petroleum analyst for GasBuddy. “This year, if we see just half of that decline it will bring us to below $2 per gallon.
Speer said the end of summer vacation, ample supply, coupled with the switch to the cheaper winter blend at refineries are a “perfect recipe for savings at the pump until the end of the year.”
The trend is expected to continue into 2016.