How Low Can Gas Prices Go?

With gas prices the lowest since 2009, energy companies wonder if the price is sustainable.
1:21 | 01/18/16

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Transcript for How Low Can Gas Prices Go?
and to those plunging gas prices in some cities and towns, dropping below $1 a gallon. In Michigan, 84 cents a gallon. A short time later, dropping even lower. Of course, the lines forming, the prices dropping. And ABC's chief business correspondent Rebecca Jarvis on all the gas prices tonight. Reporter: Tonight, the ultimate price war at the pump. Drivers lining up at that gas station in Michigan could barely believe their eyes. Prices slashed from 84 cents to just 47 cents a gallon. Across the street, customers snapped pictures of the competition at just 54 crepts. There were lines of cars waiting to get gas. People filling up gas cans. It was kind of unbelievable to see gas that cheap. Reporter: The national average for a gallon of regular tonight, $1.89. The cheapest gas since March of 2009. Great news for consumers. Puts extra money in my pocket. Reporter: But a concern for energy companies and energy jobs. This woman lost her job at an oil company this month. I can't say I was overly shocked, only because of the climate. It's been this way for months. Reporter: David, how much lower will prices go? Gas buddy predicts they'll fall another 10 to 20 cents this week and Americans will save $17 billion at the pump this year. David? That's good news. Rebecca, thank you.

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