Gasoline Falls to $2.92 per Gallon

The nation's average gasoline price fell three cents to $2.92 per gallon during the week ending on June 11 and has fallen four cents since the start of the month due to falling demand, reports AAA.

The current price level is six cents more than a month ago and 58 cents more expensive than a year ago.

"Gasoline prices continue to dip across the country, but remain nearly 50 cents more expensive than last summer in every state,” said Jeanette Casselano, a AAA spokesperson. “The higher prices seem to be influencing driving habits. While consumer gasoline demand remains strong, it is slowing and not growing.”

Demand has declined by 713,000 barrels and have fallen below 9 million barrels for the week since the middle of January, according to the U.S. Energy Information Administration (EIA).

States with the least expensive gasoline include South Carolina ($2.58), Mississippi ($2.61), Alabama ($2.61), Oklahoma ($2.62), Louisiana ($2.62), and Arkansas ($2.65). States with the largest weekly decreases include Indiana (13 cents), Illinois (seven cents), Delaware (seven cents), Washington, D.C. (seven cents), and Florida (six cents).

Meanwhile, the average price of diesel fuel fell 1.9 cents per gallon to $3.266, and is now 74.2 cents lower than a year ago, reports the EIA.

Related: Gasoline Prices Flatten Out at $2.97 Per Gallon