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This week’s gas prices are lowest since 2009

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Delaware gas prices are dipping under $2 this week. The national average gas price dropped below the 2015 low price of $2.03  and should soon fall below the $2 per gallon mark for the first time since 2009, AAA said.

Pump prices have fallen for steadily, and today’s average price of $2.02 represents a savings of 17 cents a gallon on the month. Gas prices are  56 cents per gallon lower than the same date last year.

Delaware’s average price on December 14 was $2, 67 cents lower than that day in 2014. The average price in neighboring South Jersey is $1.86, and the average for Pennsylvania is $2.24.

Last Friday was the second in a row that oil closed the week below $40 per barrel. Crude oil prices have not seen consistent sub-$40 per barrel levels since February and March 2009, when the economy was dealing with the worst recession since the Great Depression and deep demand concerns.

Currently, the low price environment is driven by a glut of crude oil.

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