Lower gas prices translating into big savings for drivers

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Wednesday, December 17, 2014
pumping gas
In this June, 2011 file photo, a motorist pumps gasoline into his vehicle at an Exxon gas station. (AP)

SAN FRANCISCO (KGO) -- Drivers can expect to save some real money next year.

The federal government estimates the average person will save an additional $550 next year, if gas prices stay where they are now.

The average price nationwide is now down to $2.51 a gallon.

Gas and oil have dropped steadily over the last six months due to lower demand in Europe and Asia.

The last time prices at the pump were this low was in 2004.