Low gas prices and President Obama’s rising popularity are bolstering Hillary Clinton's chances of winning the White House, according to a closely followed economic election model from Moody's Analytics.

The August model forecasts that Clinton will notch a win over Trump, in part thanks to historically low gas prices and Obama’s popularity.

The model, which chooses a party, not a candidate, to win, awards Electoral College votes based on state-by-state outcomes.

The most important economic variable is income growth by state, including job and wage growth, hours worked and the quality of the jobs being created in the two years leading up to an election.

The latest forecast puts 16 states, which includes Washington, D.C., firmly in Democratic territory, with 11 more leaning in that direction for a total of 332 electoral votes.