Call it the gift that keeps on giving. Gas prices in Tampa are tanking for the New Year.

"Definitely, it's a big thumbs up!" said Louis Makarious, who was filling up at a Citgo Station on Bearss Avenue.

For the first time in years, New Year's Day will likely see gas prices below $2.00 a gallon in some areas.

It's welcome news for Makarious, who logs a lot of miles every day.

"I do 25 miles to work each way back and forth so it's around 50 miles, which makes it worth it for cheap gas," he said.

Experts said the reason for the price drop comes down to simple economics. They said the world's oil supply continues to outpace the demand.

"It's been dropping lower and lower but I never expected it to drop this low so it was very surprising," said Nicole Perez.

Perez said she's even more surprised because she's not seeing prices quite as low in other places.

"My family is actually from Lakeland and the prices aren't that low there," she said. "And my boyfriend says he paid $2.35 this morning in Town 'N Country so I am definitely getting gas while I'm over here in Tampa for sure."

Drivers said it does add up. Sid Rose said normally it costs him about $160 to fill up his truck but he says now he's only spending about $110.

"You know, I never thought in a million years we'd see it below $1.00 again and now here it is $1.96," he said. "Really it's awesome."

Experts said the trend is expected to continue carrying the pump plunge well into 2015.