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Gasoline Price Falls Below Year-Ago Level

The price of regular unleaded gasoline has fallen to $2.46 per gallon, which has reached a low point for 2018 and is 2 cents lower than the price from a year ago, according to AAA.

Paul Clinton
Paul ClintonFormer Senior Web Editor
December 4, 2018
Gasoline Price Falls Below Year-Ago Level

The national average gasoline price has reached a 2018 low of $2.46 per gallon.

Photo by Vince Taroc.

2 min to read


The price of regular unleaded gasoline has fallen to $2.46 per gallon, which has reached a low point for 2018 and is 2 cents lower than the price from a year ago, according to AAA.

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The current price level is now the lowest since the 2017 Fourth of July weekend when gas prices were at $2.24 per gallon. It's also 31 cents cheaper than a month ago. Drivers in 32 states are paying less to fill up their tanks compared to a year ago. In the past year, 24 states saw their gas prices fall double digits.

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"Cheap crude oil prices are driving fuel savings at the pump," said Jeanette Casselano, AAA spokesperson. "Last week crude dropped to its lowest point of the year at $50 per barrel. However, this week’s Organization of Petroleum Exporting Countries meeting could cause crude oil prices to jump if the organization decides to reduce crude production."

The organization has scheduled a Dec. 6 meeting in Vienna to announce whether it will reduce crude production.

States with the largest yearly increases include Nevada at $3.15 (44 cents), Arizona at $2.80 (41 cents), Hawaii at $3.64 (38 cents), California at $3.53 (36 cents), Utah at $2.86 (35 cents), Wyoming at $2.84 (33 cents), Washington at $3.30 (32 cents), Oregon at $3.12 (29 cents), Idaho at $2.90 (26 cents), and Montana at $2.78 (15 cents).

States with the largest monthly decreases include Nebraska at $2.25 (46 cents), Iowa at $2.19 (46 cents), Michigan at $2.27 (45 cents), Kentucky at $2.14 (42 cents), Kansas at $2.16 (42 cents), Missouri at $2.05 (41 cents), Indiana at $2.21 (41 cents), Ohio at $2.13 (41 cents), Illinois at $2.36 (41 cents), and Oklahoma at $2.11 (39 cents).

Meanwhile, the average price of a gallon of diesel fell 5.4 cents to $3.207, which is 28.5 cents higher than a year ago, according to the U.S. Energy Information Administration.

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