Gasoline Prices Fall Across the Board
Photo by Vince Taroc.
Drivers are spending an average of 3 cents less at the pump that a week ago as national average gasoline prices have been falling across the country, the AAA reported.
In 27 states in the southeast and Midwest, many consumers have seen double-digit price drops from a year ago, as a result of an unexpected buildup of crude oil last week combined with ongoing high gasoline production runs. The oversupply could continue in the coming weeks, but prices are expected to stabilize at these levels, accordign to AAA.
The markets that have seen the largest yearly declines include Ohio (down 46 cents), Indiana (down 41 cents), Michigan (down 35 cents), Illinois (down 33 cents), Kentucky (down 21 cents), Wisconsin (down 19 cents), Oklahoma (down 11 cents), Alabama (down 10 cents), Tennessee (down 10 cents), and West Virginia (down 9 cents).
The markets with the cheapest gas this week include South Carolina ($2.01), Oklahoma ($2.05), Alabama ($2.06), Mississippi ($2.07), Tennessee ($2.08), Arkansas ($2.09) Virginia ($2.12), Missouri ($2.13), Louisiana ($2.14) and Kansas ($2.15).
Meanwhile, the average price of diesel fell 4 cents to $2.524 per gallon. Diesel is 9.3 cents higher that a year ago.