The Car and Truck Fleet and Leasing Management Magazine

Gasoline Prices Slide to $2.17

November 14, 2016

Photo courtesy of Wikimedia.
Photo courtesy of Wikimedia.

The national average price for a gallon of regular unleaded declined for 10 days to $2.17 per gallon on Nov. 14, which was 5 cents lower than a year ago, amid an abundance of crude oil in the global market.The price is inline with where it was a year ago, according to AAA.

Prices should move lower to close out the year, as gasoline demand tends to decline starting in November. Autumn refinery maintenance season is also nearing completion.

Federal data was similar to AAA's pricing trend, as regular gasoline fell 4.9 cents to $2.184 during the week. The price is six-tenths of a cent higher than it was a year ago, according to the U.S. Energy Information Administration.

The average price in all nine regions tracked by the agency declined, including 8.8 cents to $1.994 in the Midwest and 4.1 cents to $2.645 on the West Coast, the agency reported.

Average gas prices are below $2 per gallon in nine states today including Missouri ($1.88), Oklahoma ($1.88), Arkansas ($1.94), Kansas ($1.94), Indiana ($1.96), Texas ($1.97), Ohio ($1.98), Minnesota ($1.99) and Mississippi ($1.99), according to AAA.

The biggest weekly price decreases are reflected in Indiana (14 cents), Ohio (12 cents), Michigan (11 cents), Kentucky (8 cents), Illinois (8 cents), Nebraska (7 cents), Oklahoma (7 cents), Minnesota (6 cents), Wisconsin (6 cents) and Georgia (6 cents).

Meanwhile, the average price of diesel fell 2.7 cents to $2.443. Diesel is now 3.9 cents lower than it was a year ago, according to federal data.

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