The Car and Truck Fleet and Leasing Management Magazine

Gasoline Falls to $1.75 Per Gallon

February 09, 2016

Photo courtesy of Wikimedia.
Photo courtesy of Wikimedia.

Gasoline prices continued their free-fall in February as the national average price dropped 6.3 cents to $1.759 for the week ending Feb. 8 due to falling oil prices now hovering between $31 and $34, federal records show.

Gasoline is now 43.2 cents lower than it was a year ago, and continues to fall across the board among regions tracked by the U.S. Energy Information Administration. Among the nine regions tracked by the agency, gasoline fell most sharply in the Midwest and on the West Coast. Midwest gasoline fell 10.4 cents to $1.518, while West Coast gasoline fell 6.3 cents to $2.312.

There are now six states with gasoline prices of at least $2 per gallon. Hawaii ($2.627) and California ($2.504) lead the list, while Oklahoma ($1.415) now offers the cheapest gasoline, according to the AAA's Daily Fuel Gauge Report.

Meanwhile, the national average price of diesel fuel fell 2.3 cents to $2.008 per gallon. Diesel is now 82.7 cents lower than it was a year ago.

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