SIOUX FALLS, S.D (KELO AM) - Anticipate back-to-back years of average gas prices below two dollars a gallon for the first time in over a decade.
The Energy Information Administration says low oil prices will keep average gas prices at 1.89 this year and 1.97 next year.
Crude oil prices have declined more than 70% since the summer of 2014. Record high U.S. oil inventories along with growing global oil production are expected to keep crude oil prices low.
Crude oil prices account for 40% of the cost of a gallon of gasoline.
Meanwhile...For the first time the amount of electricity generated by natural gas-fired plants will exceed coal-fired generation.
The Energy Information Administration says 33 percent of electricity will come from natural gas, while 32% will come from coal.
The electric power sector's use of coal is expected to decline by 29 million tons or by about 4% because of both mild winter weather and continued strong competition from low-priced natural gas used as electricity-generating fuel.
More coal-fired generating plants will close this year.