A month-old gas station called OnCue in Oklahoma City priced its gas at $1.99 per gallon yesterday, prompting a rival down the road to go even further with $1.98 a gallon gas, USA Today reported. They were the first U.S. stations in recent memory to price a gallon below $ 2, according to Bloomberg. By the end of the day, cars were lined up for blocks and stations were dropping their prices around the city to compete.
Gas prices around the state still costs an average price of $2.53 per gallon. That's much lower than the national average of $2.74 per gallon, which is down more than 50 cents over a year ago.
Okies aren't alone in reveling in cheap gas. According to Fox59, more areas of the country could see gas prices drop below $2. Rural Virginia, Missouri, South Carolina and Texas are all flirting with the magic mark.
Oklahoma isn't necessarily celebrating the cheaper prices. As a major oil producer, and lower prices could means lower profits for the local oil fields. The drop in gas prices can be attributed to cheaper, less refined winter blend fuel, more efficient cars, increased North America production, sluggish Europe and Asian economies and a stronger dollar.