Americans are suddenly drinking more tap water - here's why

Americans are drinking record levels of tap water, according to a new report.

Consumption of tap water has been growing since the recession, when people started blending their own beverages to save money, according to a Bank of America Merrill Lynch research note.

At an average cost of $1.22 per gallon, bottled water is at least 300 times more expensive than tap water.

But saving money isn't the only reason why people are drinking more tap water.

Consumers have also recently realized that the water that comes from their sinks doesn't taste so bad.

"Tap water consumption continues to grow, as concerns about plastic packaging spreads and consumers realized their local water tasted good," the analysts write.

Tap water is now the second most consumed beverage behind carbonated soft drinks in the US, according to the chart below.