Gas Prices Hit New Low for the Year

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Gas Prices Hit New Low for the Year


WASHINGTON, D.C. — Continuing an 18-day decline, the national average gas price fell to $3.20 per gallon of regular gasoline on Monday, a new low for 2014, reported AAA. This also marked the lowest average Columbus Day price since 2010, when gas averaged $2.81 per gallon.

The new national average is 9 cents less than one week ago, 20 cents less than one month ago and 15 cents less than one year ago.

Six states have an average price less than $3 per gallon, while eight more states are averaging within 5 cents of this price.

Missouri is paying the lowest state average in the United States for the second week in a row at $2.90, while Hawaii is still paying the highest average at $4.13 per gallon. California has the highest average price in the continental U.S. at $3.60 per gallon, followed by New York and Oregon, both at $3.52 per gallon.

As of Monday, every state and Washington, D.C., saw a decline in the average price in both week-over-week and month-over-month comparisons, according to AAA. The average price dropped by a dime or more over the last week in 13 states, with Minnesota (minus 16 cents), Michigan (minus 15 cents) and Kentucky (minus 14 cents) seeing the greatest week-over-week declines.

States in which the average declined the most over the last month are Michigan (down 40 cents), Delaware (down 33 cents), Washington (down 33 cents) and Oregon (down 32 cents). Ten other states saw prices drop by a quarter or more. State averages fell by a dime or more in every state but Florida, where gas prices fell 9 cents.

Year-over-year, the average price for gas is down in every state but Alaska, which is up by less than 1 cent. Over the same period, 48 states and Washington, D.C., saw prices drop by a nickel or more per gallon, and prices fell by a dime or more in 38 states.

Drivers in Michigan (down 30 cents), Minnesota (down 30 cents), Ohio (down 27 cents) and Delaware (down 25 cents) are saving the most compared to one year ago.