How Low Will Gas Prices Go?

Fifteen weeks and counting. That's how long gas prices have fallen in the longest consecutive decline on record — 105 straight days — and pump prices could fall even lower.

U.S. crude oil was trading below $49 per barrel early Thursday, the lowest price in nearly six years and less than half of what it was in June. Analysts were predicting oil prices could drop more in the near term, pushing gas prices further down as well.

Related: Video: How Long Will Low Gas Prices Last?

The AAA Daily Fuel Gauge Report said Thursday that the national average for regular unleaded was $2.18 per gallon, the lowest since May 2009 and $1.13 less than a year ago.

Six states were averaging less than $2 per gallon, led by Kansas, $1.89; Oklahoma, $1.87; and Missouri, $1.81. Five more states were within a penny of slipping below the $2 threshold. Regular unleaded could be found for less than $2 at stations in at least 40 states, AAA said.

On Monday, Alaska's statewide average fell below $3 for the first time since June 2009 and was down to $2.97 Thursday. Hawaii was the only state above $3 with an average pump price of $3.47.

Diesel fuel also continued to fall, dropping eight cents in the past week to a national average of $3.06, 81 cents less than a year ago.

AAA predicted that gas prices will remain relatively low this year, though not as low as in recent weeks.

"Barring any significant fluctuations in the price of crude oil, the average price at the pump is likely to remain below $3 per gallon in 2015, although prices may see seasonal increases this spring as refineries undergo maintenance or this summer as demand increases during the busy summer driving season," AAA said in a statement.

Crude oil accounts for about two-thirds of the price of gas. With an apparent oversupply of oil globally and no signs that major oil producers are reducing production, oil prices have been in free fall in recent weeks.

Motorists have been the beneficiaries. The national average for regular unleaded has fallen 49 cents the past month, and premium gas has declined 47 cents to $3.60.

Several states have experienced steeper declines. For example, over the past month the average for regular unleaded has plunged 65 cents in Michigan, 67 cents in Colorado and 81 cents in Idaho. The average price is $2.03 or less in all three states.

Cars.com photo by Evan Sears

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