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Experts say gas prices could near $1 soon

JACKSONVILLE, Fla. – Gas prices should soon be nearing the one dollar mark according to oil experts. 

The cheapest gas in the country right now is at a 7-Eleven in Oklahoma City, which is selling a gallon of regular for $1.11.

Although gas in Jacksonville is averaging about $1.73, experts predict the prices will continue to fall which is good news for drivers. . 

It’s that time of the year where drivers are taking full advantage of falling gas prices. Even though Florida isn’t one of the eight states with the cheapest gas (Texas, Missouri, Ohio, Indiana, Illinois, Michigan, Kansas, Oklahoma) the state is getting pretty close and those filling up don't seem to mind.

James Doan drives a Dodge 1500. He said his job requires him to run to the gas pump multiple times a week.

Doan said he spends about $20 every two days.

“I love it. They're not good for the stock market but I like it for me,” Doan said about the falling prices.

Doan said he was happy to see that gas was down to $1.75 a gallon at this St Johns County gas station.

According to experts in the oil industry the crash in oil prices has been so fast and so steep it's unnerved financial sectors like the stock market.

Oil decline has wiped out tens of thousands of jobs and caused dozens of bankruptcies. Officials say foreclosure rates in oil rich states are also spiking.

No one knows how far crude will fall and where the damage will end, which is a big problem for Wall Street.

Day-to-day drivers like Doan won't complain as gas prices continue to drop.

“It will free up a little bit more money for me to do other stuff with,” Doan said. “That would be nice.”