Gasoline prices across parts of Arkansas and Oklahoma are at some of their lowest levels in more than a decade, aiding consumers but worrying segments of the economy that rely on oil prices being high.
The Oklahoman reported Thursday that prices could fall to around $1.70 for a gallon of regular gasoline in Oklahoma by the end of the year, and the Arkansas Democrat-Gazette said nationwide prices could reach an average of $2.03 per gallon in December.
Several stations were already selling at prices below $2 per gallon, and the U.S. Energy Information Administration said prices should fall through the rest of 2015.
Energy companies are cutting spending and some are laying off workers. Experts in oil- and gas-rich Oklahoma say the tumbling prices continue to cut into tax revenue.