Break Out The Wine Glasses, The Price Of Wine Is Dropping Fast

Close-Up Of Red Wine Being Poured In Glass Against White Background

The price of wine is expected to drop to its lowest levels in five years thanks, in part, to a surplus of California grapes.

Combined with a decreased demand for wine, drinkers can expect to get better value for every drop they drink this year. The cheaper prices may even last up to three years.

Rob McMillan, founder of Silicon Valley Bank's Wine Division and author of the annual State of the Wine Industry report, predicts US wine consumers will enjoy the "best wine retail values in 20 years."

Photo: Getty Images

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