Gasoline Falls to $2.29 Per Gallon
Photo by Vince Taroc.
The nation's average price of gasoline fell 5 cents to $2.29 for the week ending June 19 as strong oil production and weak gasoline demand has kept prices on a downward trajectory, according to AAA.
The national price has fallen for 17 consecutive days, following a brief increase for Memorial Day. It's now 6 cents lower than a month ago and 5 cents cheaper than a year ago.
Gasoline prices fell in all but four states for the week. Prices fell below $2 per gallon in South Carolina, while California prices are on the cusp of falling below $3 per gallon.
States with the largest monthly declines included 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).
States with the cheapest gas this week include 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).
Meanwhile, the average price of diesel fell 3.5 cents to $2.489. Diesel is now 6.3 cents higher than a year ago, according to the U.S. Energy Information Administration.