Here's How Much Money Americans Will Save Thanks To Cheaper Gas

Wells Fargo

By now, we've all heard that oil prices have plummeted over the last several months, which has made things tough for major energy-producing economies like Saudi Arabia and Texas.

But it's great news for the average American consumer because lower oil prices means lower gas prices - and lower gas prices means a rise in disposable income.

This chart from Wells Fargo Securities shows just how much each income group in the US will save over a year because of lower gas prices.