Travelers see steep decline in gas prices

Travelers see steep decline in gas prices

Amarillo, TX -  Gas prices are the lowest they've been in more than a decade.

Of the country's near 130,000 gas stations, more than 5 percent are selling gas for less than two dollars a gallon, according to AAA.

During this long holiday weekend, AAA expects 35.5 million Americans to to make a trip of 50 miles or more. And the biggest contributor....gas prices.

As of today the average price in the U.S. is $2.39. And Amarillo falls far below that with the cheapest gas in town being $1.95.

"This whole trip is going to cost us maybe 70 bucks like driving cross country about 3,000 miles and for us it's worth it to spend some time with family and whatnot and it's all made possible by these prices, gas prices," says New York resident Gian Luka-Cuestas.

"As a driver, the lower fuel prices means I can get more for the amount of miles that I can get on a tank," says trucker Donald Carre.

So...why is gas so cheap? Long story short, the bottom has fallen out on oil prices. As oil goes, so does gas and right now, oil is trading for under $46 a barrel. At this time last year, oil was $100 a barrel.

And while we're seeing some positive effects at the pump, some travelers say it negatively impacts other businesses.

"Even though the fuel's gone down...the road taxes, the tax that we still have to pay is still high," says Carre. "The insurance we're paying is still high. The fuel going down does help, but only so much."

"I think that's economy," says Luka-Cuestas "Like, every time something goes up, somebody else suffers you know it'll flip around eventually gas prices will go back up and somebody else will suffer and I mean while a lot of us we're suffering you know I have to travel a lot for my job and it's just so expensive, so I'm getting a break but somebody else is going to have to take one for the team for a while but that's...I think that's just an economy."

Experts believe gas prices are still heading lower. The energy information administration is forecasting the national average will drop to $2.11 a gallon by the end of this year.