Gas Prices Below National Average at 56% of Stations
WASHINGTON, D.C. — At 56 percent of gas stations nationwide, drivers can find gas for less than $2.24 per gallon, which is below the national average of $2.29 per gallon. Gas prices have dropped in all but four states week over week, according to the AAA Newsroom.
The national average has dropped for 17 consecutive days as of June 19, and the current average is 5 cents cheaper than both one week and one year ago, and 6 cents less than one month ago.
Gasoline demand rose to new heights for Memorial Day but dropped for the first half of June, AAA reported. At the same time, high oil production rates in the United States, along with increased oil output from countries such as Libya and Nigeria, could lead gas prices to continue to decline through the end of June.
The top 10 markets with the largest monthly declines are Ohio (17 cents), Indiana (16 cents), Oklahoma (12 cents), Michigan (12 cents), Kentucky (8 cents), North Dakota (8 cents), Pennsylvania (8 cents), South Carolina (7 cents), New Mexico (7 cents) and Texas (7 cents).
The top 10 markets with the cheapest gas this week are South Carolina ($1.97), Oklahoma ($1.99), Alabama ($2.03), Mississippi ($2.04), Tennessee ($2.05), Arkansas ($2.06), Missouri ($2.07), Virginia ($2.07), Louisiana ($2.10) and Kansas ($2.11).
The most expensive gas markets in the country are still on the West Coast, despite prices dropping by an average of 2 cents in every state except Hawaii, which saw a 2-cents increase. Hawaii was also one of just two states — including Utah — to see an increase on the week. Current West Coast prices are: Hawaii ($3.06), California ($3.01), Alaska ($2.87), Washington ($2.84) Nevada ($2.70), Oregon ($2.68) and Arizona ($2.29).
In the Rocky Mountains, Idaho and Utah lead the region with the highest prices at ($2.61) and ($2.57), respectively. Area gas prices are volatile, increasing by 4 cents in Utah, staying flat in Idaho and falling 3 cents in Colorado and 1 cent in Montana and Wyoming. The fluctuation of gas prices in this region has been an ongoing trend since May.
A second straight week of rising gasoline inventory has caused the Great Lakes and Central states to see gas prices continue to drop compared to one month and one year ago. Many states in the region are seeing significantly cheaper gas, with declines occurring in Ohio (38 cents), Indiana (33 cents), Michigan (28 cents), Illinois (24 cents), Wisconsin (18 cents) Kentucky (16 cents) and Iowa (9 cents). Iowa, Kansas, Minnesota, Missouri, North Dakota, Nebraska and South Dakota are seeing a moderate drop in gas prices compared to one year ago, 4 cents year over year on average.
The South and Southeast saw the largest jump in gasoline inventory in the country on the week, causing the region's gas prices to fall by an average of four cents. South Carolina ($1.97) became the first state to see its average price at the pump move below $2 per gallon, with other states seeing similar decreases: Oklahoma ($1.99), Alabama ($2.03), Mississippi ($2.04), Tennessee ($2.05), Arkansas ($2.06) and Louisiana ($2.10).
In the Mid-Atlantic and the Northeast, gas prices dropped in every state by 4 cents on average. Despite this, gas prices in the region vary significantly by a 43-cent range from state to state: Pennsylvania ($2.50), Washington, D.C. ($2.50), New York ($2.46), Connecticut ($2.46), Vermont ($2.36), New Jersey ($2.33), Rhode Island ($2.32), West Virginia ($2.32), Massachusetts ($2.31), Maine ($2.28), Maryland ($2.27), New Hampshire ($2.24), Delaware ($2.22) North Carolina ($2.15) and Virginia ($2.07). A variety of factors, including demand and state gasoline taxes, contribute to this level of price difference.