Gas prices dropped below $2.00 a gallon on the first day of the New Year.
AAA Michigan says March of 2009 is the last time gas prices were this low.
The current statewide average is $1.97 per gallon.
The decline is due to a very large drop in crude oil costs; AAA says crude oil represents about two-thirds of the cost of gasoline.
There's a glut of crude oil on the market, after Saudi Arabia decided to keep pumping out the oil despite lower global demand and increased production in countries like the U.S.
Saudi Arabia is taking the action to protect its global market share.
Low gasoline costs at the pump could continue for quite awhile.
Saudi Arabia has no immediate plans to reduce production.