Megan McArdle, Columnist

What's So Bad About Low Gas Prices?

For the first time in years, a gas station in the United States is selling gas for just $1.99.

Fill 'er up.

Photographer: Andrey Rudakov/Bloomberg
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If you're my age, you could be forgiven for thinking that $2 gasoline is the kind of nostalgic memory you'd be able to share with your children someday, like playgrounds with monkey bars or televisions that didn't even have a remote control. Suddenly, however, it's back. For the first time in years, a gas station in the United States is selling gas for just $1.99.

If you have a big, gas-guzzling car or drive a lot, this is great news. And overall, lower energy prices are good for the economy, so this is likely to keep U.S. gross domestic product growth strong -- if they last.