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Why gas prices are so low right now, explained in 2 minutes

Gasoline prices in the United States have fallen to their lowest level since 2010. And the reason for that is pretty simple — global oil prices are crashing. But why are oil prices crashing? That's a more complex story, as we explain in the video above (click here for the Youtube version).

oil prices and gas prices dec 7

(GasBuddy.com/Vox)

Further reading

Oil prices keep plummeting as OPEC starts a price war with the US

What the huge drop in gasoline prices means for America

How far do oil prices have to fall to throttle the US shale boom?

Right now is a perfect time to raise the gas tax