Gas Prices Hit a Stunning Low of 47 Cents per Gallon in Michigan on Sunday

WOW, 47 CENTS A GALLON … WELL ACTUALLY 47.9 CENTS.

Gas prices hit an amazing low of 47 cents a gallon in as a price war broke out between three gas stations in in Houghton Lake, Michigan. I cannot even remember when gas prices were that low. You could imagine the reaction by Americans when they saw prices fall to such a low price. Could you imagine being able to fill your car up from with an empty tank for less than $9.00? Of course these low gas prices and cost for barrels of oil are having other adverse affects on our economy.

ABC NEWS:

The price of gas hit a stunning low — just 47 cents per gallon — in Michigan on Sunday.

Michigan was the first state to have gas under $1 in likely over a decade, Patrick DeHaan, senior petroleum analyst at GasBuddy.com, told ABC News today.

A gas station in Houghton Lake, Michigan, hit the 47 cents mark after a price war between three stations in the town, DeHaan said.

GasBuddy.com’s data goes back to 2000 and DeHaan said he couldn’t find any other averages that low in the U.S.

“This is something we don’t see often at all or ever,” DeHann said. “That’s unheard of.”

DeHann said he believed the next lowest price in the country was about $1.29, at a station in Virginia.