'I'm surprised it's this low': Travel gets cheaper as gas prices drop

WAUKESHA, Wis. (CBS 58) - If you’re hitting the road home after the holidays, there’s some relief at the pump. Gas prices are dropping across the country, and for the first time in years, the national average is under $3 a gallon.

In Waukesha, drivers can fill up at Kwik Trip on Abbott Drive for $2.05 per gallon. That’s about 50 cents lower than prices in the area just a month and a half ago. Drivers say the savings are giving them more freedom to spend money on other things.

David Seitz, a traveler, said he was surprised by the lower prices. “I was surprised it was as low as it is. I’m used to paying $2.25-$2.30. It’s a little less today, which is a nice thing,” he said.

GasBuddy points to several reasons for the drop, including lower crude oil prices, record U.S. oil production, and strong refinery output.

Patrick De Haan, GasBuddy’s head of petroleum analysis, said, “Gasoline demand is pretty low right now. In addition, oil prices reached multi-year lows, which has helped gas prices also fall to multi-year lows.”

In Wisconsin, the average gas price sits around $2.43 a gallon, with some stations moving even lower.

De Haan said Wisconsin is “getting pretty close to seeing stations below $2.”

For many drivers, lower gas prices means more money for groceries, bills, and other important expenses.

Taven Putnims, a traveler, said, “From the last couple of years, paying almost $4,5,6 worth of gas per gallon, for middle-class people, you can spend a lot more money on groceries and important things.”

Others are using the savings to travel.

Carlyn Evans said, “I’m going to take my kids tomorrow on a little road trip to Dubuque, Iowa. I saw the gas prices, and I thought, may as well do it today.”

GasBuddy cautions that prices could change depending on global events affecting oil production.

De Haan said, “Russia is a major oil producer, so any big political turmoil event in Russia could have an impact on oil prices moving forward, as well as the Trump administration blockade event in Venezuela.”

GasBuddy says these lower prices could last another four to six weeks, giving drivers a chance to enjoy the savings a little longer before prices start to climb again.