Waldorf, MD – In Charles County, all along US Route 301 from the Harry Nice Bridge into Waldorf, there was an uncommon site. On all but one of the gas stations’ price signs, gas was priced at 1.99 per gallon. Gas hasn’t been below 2 dollars a gallon in the state of Maryland since June of 2009.
The reason for this steady drop in prices is that oil has been steadily getting cheaper. The current trading price for a barrel of oil is $45.78. According to The Wall Street Journal, the price of oil barrels has dropped due to a simple supply and demand resolution. Due to the new-found oil in the United States, the supply now meets the demand with our ‘homegrown’ oil. As the price of oil barrels continue to drop, the price of gas will continue to drop.
Across the state, our average gas price has dropped to $2.13 a gallon. Compare that to a year ago today, when on October 29, 2014, the average gas price across the state was $2.97. A year earlier, the average price was $3.25, even reaching as high as $3.70 in June of 2014.
