(Bloomberg) -- American drivers are within shouting distance of $1.50 a gallon for the first time since 2009.

Thanks to a glut of oil that has spurred refiners to make as much fuel as they can, pump prices nationwide are down about 26 cents a gallon from a year ago, which is translating into almost $80 million a day in savings for U.S. drivers, according to Michael Green, a spokesman in Washington for AAA.

Oklahoma was the first state to drop below $1.50 and has the cheapest prices in the country at $1.489 a gallon, more than 30 cents below the national average, AAA data show.

Recommended For You

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.