Gasoline prices are in free fall and even lower numbers are likely for the opening of 2015.

The Inland Empire average is $2.95 a gallon. That’s a full $2 lower than the record set just over 2-years ago.

Jonathan Cogan at the Federal Energy Information Agency has figured the annual savings.

“Annual motor fuel costs for the average household are expected to fall below $2,000. That’s about $550 less than this year.”

Falling crude oil prices and higher production are leading the way. The government says that daily production in the U.S. has topped 9 million barrels for the first time in almost 30-years.

Story Date: December 20, 2014