Great news for drivers as we head into the New Year. Gas prices are low, and are expected to remain low throughout 2016, according to AAA.
AAA, which compiles gas price information from around the country, is projecting that gas prices will stay lower in the year ahead — maybe even lower than 2015.
It estimates that the average price of a gallon of regular, unleaded gasoline would be between $2.25 and $2.45 a gallon. In 2015, the average price per gallon was $2.40 -- Americans saved $540 on gas as a result.
In its report, AAA also said it projected that the national average would stay steady or drop another 10 cents in the coming weeks. Even though gas prices can vary by season, AAA said it didn't think the average would go above $3 a gallon this year.
So what can we expect for 2016?
The winter blends are expected to stay around $2.06 a gallon
AAA is expecting a light increase in February as processing centers do seasonal maintenance and switch blends.
As we head into the spring prices are expected to remain low but increase to about $2.38 a gallon.
The summer driving season is the busiest, and is expected to yield the highest gas prices of the year with averages projected to be about $2.55 a gallon.
Heading into fall of 2016 gas prices are expected to dip back down and finish out the year with prices per gallon expected to be about $2.38.