Will gas prices drop below $2 again?

Answer by  Kurt (4579)

Gas prices will drop below $ 2 only if fewer people are using their vehicles ( demand ) or there is a big increase in oil production ( supply ). This is a basic fundamental economic law that cannot be changed by anything the government does. It is doubtful gas prices will drop below $ 2 in the near future.

Answer by  tamarawilhite (17883)

This is highly unlikely unless the Congress authorizes new drilling on the Continental Shelf and national monument lands, allows building of new refineries, and reduces the gas taxes that constitute up to 40% of the price of a gallon of gas.