Gas prices have fallen to historic lows in the United States. In December 1998, gasoline prices hovered near $1 per gallon nationwide, the lowest price since the 1970s. Prices dropped to 84 cents per gallon in Savannah, Ga. and Joplin, Mo. But were as high as $1.65 per gallon in Honolulu, and $1.37 in Juneau, Alaska.
According to an analysis by Runzheimer International, a management-consulting firm, increased demand for oil from growing economies around the world or the decrease in supply from oil producers could cause prices to increase.