Gas prices dropping. Where are the lowest prices?
Gas prices are dropping around the US, driven by a decrease in crude oil prices. One survey says US gas prices have dropped 18 cents per gallon in the last two weeks.
Ben Garver/The Berkshire Eagle/AP
A national survey of gas prices reports that the average cost of U.S. regular grade gas dropped 18 cents per gallon in the last two weeks.
Industry analyst Trilby Lundberg said Sunday that the average for regular grade gas is $3.08 per gallon, while midgrade averages $3.31 and premium $3.47. Retail diesel averages $3.67.
Lundberg said the price has dropped 65 cents since its peak in May and is 29 cents below what it was last year.
She said the drop has been driven by a decrease in the price of crude oil. She forecasts minimal further cuts if prices remain stable.
Massachusetts gas prices have fallen another eight cents per gallon in the past week, and are now down 29 cents in the past month.
AAA Southern New England reports Monday that self-serve, regular has dropped to an average of $3.09 per gallon.
That's a nickel above the national average and a quarter below the in-state price at this time last year.
The range in prices for self-serve, regular went from a low of $2.92 per gallon to a high of $3.43.
Prices at the gas pumps in Ohio at the start the new work week were well below the $3-per-gallon mark, according to a survey Monday.
A gallon of regular gas was averaging $2.94 in the survey from auto club AAA, the Oil Price Information Service and WEX Inc. That's 13 cents less than a week ago and 38 cents lower than last month at this time.
Ohio's average is lower than the national average, which was $3.04 Monday. That's 6 cents less than a week ago, and 30 cents less than this time last month.
AAA says it's typical for gas prices to drop during the last months of the year, but other factors have helped bring prices down. The auto club also attributes the falling gas prices to lower crude oil prices, an increase in U.S. refineries' crude oil supplies to make gasoline and a quiet East Coast hurricane season.
AAA expects gas prices to remain low through the end of the year.