AAA: Year-Over-Year Gas Price Savings Narrowing

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AAA: Year-Over-Year Gas Price Savings Narrowing

12/11/2013

WASHINGTON, D.C. – Since Thanksgiving, the national average price of gasoline has fallen nine out of 12 days as of Dec. 9. This follows a 15-day streak of consecutive daily increases leading up to the holiday, according to the latest AAA Fuel Gauge Report.

The current national average price for a gallon of regular gasoline is 6 cents higher than one month ago, but fractions of a cent lower than last week's price of $3.27 and 8 cents less than one year ago.

Additionally, while a 126-day streak of year-over-year discounts continues, the yearly savings is at its narrowest mark since Aug. 8, AAA reported this week.

Retail gas prices fell across the United States following the end of the summer driving season in September and approaching Thanksgiving due to flat demand, high supply levels and declining crude oil prices. However, price movement at the state level has been a mixed bag over the last few weeks.

Although gas prices dropped in 20 states, they rose in the other 30 states and Washington, D.C. The monthly declines were led by drops of more than 10 cents in Montana, Hawaii, Wyoming and Colorado, and more than 20 cents in Utah and Idaho. Major increases include a 22-cent jump in Florida and increases of more than 10 cents in 12 other states and Washington, D.C.