UPDATE: Cedar Falls gas station sold $1.99 per gallon gas - KWWL - Eastern Iowa Breaking News, Weather, Closings

UPDATE: Cedar Falls gas station sold $1.99 per gallon gas

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A Cedar Falls gas station dropped their price for unleaded plus gasoline to $1.99 per gallon for a short time tonight.

KWWL viewers alerted us that The Music Station on First Street in Cedar Falls had dropped the price and that lines were starting to form.

Employees tell KWWL that it was a promotion celebrating a milestone for the business. It's the first time drivers in the Cedar Valley have seen gas under $2 per gallon in more than four years.

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If you thought the days of paying less than $2 per gallon for gas were over, think again.

The website GasBuddy.com reports that drivers who go to the OnCue Express in Oklahoma City, Oklahoma are paying $1.99 per gallon for gas. They say this is the first gas station to sell gas below $2 per gallon since July 30, 2010

“We knew when we saw crude oil prices drop last week that we'd break the $2 threshold pretty soon, but we didn't know if it would happen in South Carolina, Texas, Missouri or Oklahoma,” Patrick DeHaan, senior petroleum analyst for GasBuddy, said in a written statement. “Those are all low-tax states and all have statewide averages at $2.52 or less.

They report that today's national average for a gallon of gas is at $2.74 per gallon, 51 cents per gallon less than a year ago. Missouri has the lowest average price per gallon in the country today at $2.43 per gallon. Florida has the biggest difference between today's average and a year ago. Drivers in the Sunshine State are paying more than 69 cents less per gallon at the pump than they were this time last year.

"The broad decline in crude oil and wholesale gasoline prices means more gas stations can be expected to head south, figuratively speaking,” Gregg Laskoski, another senior petroleum analyst with GasBuddy, said in a written statement. “Over 15% of the nation's gas stations are now below $2.50 per gallon and it may not be long before others join OnCue Express in that exclusive club that's below $2!”

Overall lowest price in states with lowest averages:

$1.99 Oklahoma City, OK
$2.17 St. Louis, MO
$2.17 Houston, TX
$2.19 Charleston, SC
$2.20 Clarksville, AR
$2.22 Hattiesburg, MS
$2.22 Baton Rouge, LA
$2.27 Albuquerque, NM
$2.27 Memphis, TN

The lowest price in Iowa reported on the site is $2.35 per gallon in both West Burlington and Sloan.

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