The national average price of gasoline fell 2 cents to $2.63 per gallon, which marked the third consecutive week it has declined, according to AAA.
Prices have steadily declined as a result of crude oil prices remaining at less than $54 per barrel, even with a spike in demand that's not typical for this time of year, said Jeanette Casselano, AAA's spokesperson.
"The national gas price average has been gradually decreasing the past three weeks and we expect this trend to continue, barring any major industry or geopolitical events," Casselano said. "But the real savings we’re seeing is when prices are compared to this same time last year. Drivers in some states are paying 40 cents less per gallon than they were last October."
The current price is 6 cents more expensive than a month ago and 26 cents cheaper than a year ago
Recent weeks have brought higher gasoline prices on the West Coast, especially in California, but those hikes could be slowing down. The region's refinery utilization increased 10% and gasoline supply was relatively stable for the week ending Oct. 4, according to data from the U.S. Energy Information Administration.
States with the largest weekly changes include Michigan (down 10 cents), Oregon (up 10 cents), Kentucky (down 7 cents), Washington (up 7 cents), Florida (down 6 cents), Alaska (up 6 cents), Indiana (up 5 cents), Georgia (down 4 cents), Texas (down 4 cents), and New Mexico (down 3 cents).
States with the least expensive markets include South Carolina ($2.25), Louisiana ($2.26), Mississippi ($2.26), Texas ($2.27), Alabama ($2.29), Missouri ($2.30), Virginia ($2.31), Arkansas ($2.31), Delaware ($2.31), and Oklahoma ($2.33).
Meanwhile, the average price of a gallon of diesel fell 1.9 cents to $3.047 per gallon, which is 33.8 cents lower than a year ago, according to the administration.