AAA Says Gas Prices Declining and Access to Fuel in Northeast Improving

WASHINGTON – AAA released its latest fuel prices report for this week, noting that the average nationwide price for a gallon of regular gasoline is $3.42. This price is two cents less expensive than a week ago, and down 28 cents from Oct. 17. The price is still five cents up from a year ago, and is the highest price on record for Nov. 17.

Retail prices nationwide have been falling since September, barring regional issues, such as those in California earlier this year or in the northeast following super storm Sandy. Drivers in Hawaii, at $4.11, and Alaska, at $3.97, face the highest prices currently. Those in Missouri, at $3.08, and South Carolina, at $3.12, are seeing the lowest prices.

In the northeast, the fuel situation has been improving, although drivers are still facing rationing in New York City (the city’s mayor Michael Bloomberg extended the odd-even rationing rules through Thanksgiving). In New Jersey, rationing ended last Tuesday, and in Long Island, rationing ended on Friday, Nov. 16. Prices have dropped after rising, now at 16 cents lower than a week ago in Long Island, down 11 cents in New York City, and down eight cents in New Jersey, according to AAA.

Looking ahead, AAA expects gas prices to continue to drop across the U.S., barring any unforeseen market changes. The organization said cheaper winter-blend gasoline and concerns about the health of the U.S. economy are pushing pump prices down.

The chart below frrom AAA shows the states with the lowest gas prices.