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The Car and Truck Fleet and Leasing Management Magazine

Gasoline Falls to $2.94 Per Gallon

November 11, 2014

Photo via Wikipedia.
Photo via Wikipedia.

The national average price of a gallon of unleaded gasoline fell 5.2 cents to $2.941 per gallon for the week ending Nov. 10, extending a recent price slide that began in late June, according to federal data.

The average price has fallen 76.3 cents since June 23, when the national price stood at $3.704 per gallon. The average national price has now reached a low it hasn't reached since Nov. 29, 2010, when the price reached $2.856 per gallon, according to the U.S. Energy Information Administration. Gasoline costs 25.3 cents lower than it did a year ago, and fell below $3 per gallon for the week ending Nov. 3.

Prices fell in all nine of the regions tracked by the agency with the sharpest drop coming on the West Coast where it fell 6.9 cents to $3.168 per gallon. Regular unleaded now costs below $4 in all 50 states and District of Columbia, and costs below $3 in 27 states. South Carolina now has the cheapest gasoline at $2.675 per gallon, according to the AAA's Daily Fuel Gauge Report.

Meanwhile, the average price of diesel rose 5.4 cents to $3.677 per gallon. Diesel now costs 15.5 cents lower than it did a year ago.

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