(247WALLST) — The International Energy Agency (IEA) February oil market report will put more downward pressure on crude prices just as the price of gasoline in some parts of the United States dips to above $1.10 a gallon. Prices are moving swiftly to below $1, a price last posted in the United States in December of 1993.
Crude trades at $30 per barrel now, and the forecasts of $20 have become more likely.
More than 50 stations in Oklahoma sell gas for under $1.15 per gallon. One station sells regular gas as $1.11, according to GasBuddy. That is against a national price for an average gallon of gas at $1.72. A month ago, that price was just short of $2.
Advertisement - story continues below