The Car and Truck Fleet and Leasing Management Magazine

Gasoline Falls to $2.56 Per Gallon

February 26, 2018

Photo by Vince Taroc.
Photo by Vince Taroc.

The national average price of a gallon of regular unleaded remained nearly unchanged with a one-cent decline to $2.56 for the week and has reached its lowest level of the month, reports AAA.

The February trough represents a low for the month but is still 29 cents above its level from a year ago. Cheaper gasoline prices aren't expected to continue, according to the fuel price watcher.

"Gas prices continue to trend cheaper for the majority of motorists as demand for consumer gasoline declines for a second week," said Jeanette Casselano, AAA spokeswoman. "Even with the small drop-off, demand continues to register above 9 million b/d, which is a 4% year-on-year increase, according to the Energy Information Administration’s latest report."

The largest weekly changes came in Indiana (minus 9 cents), Florida (minus 5 cents), Michigan (plus 5 cents), Kentucky (plus 4 cents), New Jersey (minus 4 cents), Ohio (plus 4 cents), South Carolina (minus 3 cents), New Mexico (minus 3 cents), Maryland (minus 3 cents) and Tennessee (minus 3 cents).

The least expensive states now include Texas ($2.25), South Carolina ($2.25), Mississippi ($2.26), Alabama ($2.26), Missouri ($2.29), Arkansas ($2.30), Ohio ($2.30), Tennessee ($3.31), New Mexico ($2.32), and Oklahoma ($2.33).

Meanwhile, the average price of a gallon of diesel fell two cents to $3.007 per gallon, which is 43 cents higher than a year ago.

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