NEW YORK (CNNMoney)
The Petronic gas station on Spicewood Drive is selling regular gas for $1.99 a gallon, according to GasBuddy.com, a website that tracks gas prices nationwide. The average price for a gallon of gas in Texas is $2.48.
On Wednesday, a gas station in Oklahoma City became the first in the nation to sell gas for less than $2, a level that most drivers haven't seen in years. Now, there are three stations in Oklahoma with prices below $2, including one that sells gas for $1.89 a gallon.
Gas prices have tumbled this year on the heels of sharply lower crude oil prices. The price of a barrel of U.S. crude oil is down 33% so far this year.
Related: Is 2015 the year when the oil crisis ends?
The current national average price for a gallon of gas is $2.71, down 56 cents from a year ago, according to data from AAA. That's the biggest year-over-year drop since 2009 and AAA estimates that drivers are saving $200 million per day as a result.
Still, not all Americans will likely see gas prices below $2. That's because many states have high gasoline taxes.
While prices could fall an additional 15 to 20 cents, AAA says oil prices would need to fall another $25 to $30 a barrel for the national average gas price to go below $2 a gallon.
First Published: December 5, 2014: 2:03 PM ET
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