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

Elena HolodnyDec 23, 2014, 03:57 IST

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.