– continuing the scenario of oils falling down, the gas reach now $2 for gallon for the first time in 3 years and half.

The nationwide average price dropped to $1.989 a gallon, down from $2.02 on Thursday, according to motorist group AAA, which bases its information on credit card swipes from up to 100,000 service stations.

This is the first time that gas has dipped below $2 a gallon since March 9, 2005, when the nationwide average was $1.9932, according to Ben Brock well, director of data and pricing services for Oil Price Information Services.

OPIS tracks fuel prices in conjunction with AAA and Wright Express, an information provider for the commercial and government vehicle fleet industries.

“This summer, we thought [gas for $2 a gallon] was impossible, and now we have crossed the threshold,” said Brock well. “It’s an important psychological barrier.”

economic issues, economic news, gas prices, oil prices, us news