Gasoline Prices Continue Their Decline

The average national price for regular unleaded fell 4 cents to $2.42 to reach a new low for 2018, as gasoline prices continued to follow oil prices to lower price levels for the week ending Dec. 10, according to AAA.

Gasoline is now 28 cents cheaper than a month ago and 4 cents lower than a year ago. Crude closed at $52.61 per barrel on Nov. 7, which was slightly higher than the prior week at $50 per barrel.

"Motorists are noticing a big difference as they fill-up at the gas pump this month," said Jeanette Casselano, AAA spokesperson. "Month-over-month, gas price averages have dropped double digits for every state. For some in the Great Lakes and central states (Iowa, Kansas, Nebraska and Missouri), gas prices are as much as 40 cents less than they were in November. In some states, gas prices are nearing $2 per gallon — something that hasn't been seen since December 2017."

States with the largest monthly decrease included Iowa (40 cents), Kansas (40 cents), Nebraska (40 cents), Missouri (38 cents), Arkansas (37 cents), South Dakota (36 cents), Georgia (36 cents), Wisconsin (36 cents), Mississippi (36 cents), and Alabama (36 cents).

States with the least expensive markets include Missouri ($2.00), Oklahoma ($2.06), South Carolina ($2.06), Texas ($2.08), Kansas ($2.09), Alabama ($2.09), Arkansas ($2.09), Mississippi ($2.10), Louisiana ($2.10), and Iowa ($2.15).

Meanwhile, the average price of a gallon of diesel fell 4.6 cents to $3.161, which is 25.1 cents higher than a year ago, according to the U.S. Energy Information Administration.