The Midwest is seeing the lowest gas prices in nearly 12 years. With supplies high, and oil prices low, could an even lower price mark be reached? Many think the 99-cent threshold could be within reach!

GasBuddy.com is reporting that nine states are seeing the lowest average price of gasoline since 2004. The average price per-gallon in Iowa right now is still at $1.73, three cents away from the lowest price since 2005. However, many stations in the Cedar Rapids area are selling gas at $1.46 a gallon. Could the price reach 99-cents? Some states are already close!

The cheapest station in Indiana is only 18-cents away from the mark. Ohio and Michigan are only 20-cents away. With the oversupply of the winter blend gasoline, and Americans driving less in the winter months, 99-cent-per gallon gas is going to happen. When will prices spike again? Midwest gas supplies are said to be at record levels, so don't expect too much fluctuation until, you guessed it, summer driving season.

 

[via The Gazette]