Gas prices could fall below $2 by Christmas - KWWL - Eastern Iowa Breaking News, Weather, Closings

Gas prices could fall below $2 by Christmas

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WATERLOO (KWWL) -

The price of oil has been sliding which has many of you wondering why there hasn't been a big drop at the pump.

Crude oil recently slipped below $40 for the first time since 2009. One oil analyst says a refinery outage in the Midwest isn't helping things. Also, gas stations are still selling a summer blend with a slightly higher price tag.

Here's the good news. "The national average could breach $2 per gallon by Christmas. That would mean thousands of stations under $2 per gallon but it's going to take time to get there," said Patrick DeHaan from GasBuddy.com.

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