Gasoline Falls to Cheapest December Level in Two Years

The national price of gasoline has fallen to $2.37 per gallon, which is the lowest December level on record since 2016 and continues a price decline that began in early October. Gasoline prices have tumbled 54 cents from Oct. 9, when the average price was at $2.91 per gallon, according to AAA.

The lower gasoline prices will likely fuel heavier traffic flows during the holiday season, which is expected to see a 4.4% increase in congestion, according to a separate AAA announcement. The group expects more than 102 million Americans to hit the road. Dec. 20 is expected to be the most congested travel day.

"AAA expects 102 million Americans to drive to their holiday destination this year, which is a four percent increase year-over-year," said Jeanette Casselano, AAA spokesperson. "No doubt cheaper gas prices are fueling their decision to hit the road."

The national average is 5 cents lower than a week ago, 26 cents less than a month ago, and 6 cents lower than a year ago. Gasoline production remains on the high side at 10 million barrels per day.

States have seen gasoline prices fall as much as 12 cents on the week. The largest decreases include Ohio (12 cents), Indiana (9 cents), Idaho (9 cents), Montana (9 cents), Michigan (9 cents), Colorado (8 cents), Illinois (8 cents), Washington (7 cents), Utah (7 cents) and Hawaii (6 cents). Florida was the only state to see an increase (up 1 cent to $2.29).

States with the least expensive gasoline include Missouri ($1.96), South Carolina ($2.03), Oklahoma ($2.04), Arkansas ($2.04), Alabama ($2.05), Louisiana ($2.05), Texas ($2.05), Mississippi ($2.06), Kansas ($2.06) and Ohio ($2.07).

Meanwhile, the average price of diesel fell 4 cents to $3.121 per gallon, which is 22 cents higher than a year ago, according to the U.S. Energy Information Administration.