Gas Prices Continue to Slide Since June


The national average price of a gallon of gasoline has dropped five cents to $3.853 a gallon, according to the American Automobile Association (AAA). Gas prices have continued to decline from their peak of $5.06 in mid-June.

The continued decline in gas prices has brought some relief to consumers at the pump as the last time gas prices hit the $3.85 mark was in March 2022.



Who pays more and who pays less?

The national average gas price has now fallen for the 75th day in a row. Gasoline prices have fallen more than 20 cents since July, when they had peaked at $4.278 a gallon. Despite the rapid drop, gas prices are still 70 cents higher than this time last year, when a gallon of gas cost $3,148. Although not as low as the national average a year ago, the decrease in costs is very welcome for motorists.

After hitting all-time highs, gas prices are falling back to more familiar levels, although they still remain quite high in some states. Since last week, about eight states have seen gas prices at the pump drop more than 10 cents. The states of Maine, Connecticut, Rhode Island and New Jersey saw average gas prices drop more than 11 cents. While Tennessee, Missouri, South Carolina, Hawaii, Iowa and Alabama saw the least change in gas prices, seeing a drop of less than 3 cents in prices in a week.

The state of Hawaii continues to see high gas prices with drivers paying an average of $5,312 per gallon. Hawaii has taken the mantle of having the most expensive gas prices in California, average gas prices in California are now $5.278 a gallon. That’s despite gas prices dropping 2 cents in Hawaii and four cents in California since last week.

Higher gas prices

status regular Middle grade Premium diesel
Hawaii 5,306 5,523 5,779 6,099
California 5,276 5,472 5,622 6.3
snowfall 4,873 5.121 5,317 5,189
Alaska 4,849 5.02 5.207 5,288
Oregon 4,785 4,974 5,193 5,637

States with the least expensive gas prices nationwide include Arkansas, Mississippi, Georgia and Texas saw a gallon of regular gas for less than $3.40.

Lower gas prices

status regular Middle grade Premium diesel
Arkansas 3,353 3,697 4,042 4,755
mississippi 3,372 3.71 4.08 4,655
Texas 3,374 3,736 4,066 4,653
Georgia 3,381 3,768 4.134 4,717
Louisiana 3,407 3,767 4,128 4.68

Which metropolitan areas have the highest gas prices?

Some 37 US metro areas continue to see average gas prices even surpass June’s record high of $5.06. Of these 30 of the highest prices are in California. San Luis Obispo-Atascadero-Paso Robles has the most expensive gas prices, at $5.644 a gallon.

Gas price trends

regular Middle grade Premium diesel
current average 3.85 4,279 4,588 5,057
yesterday average 3,853 4.29 4,595 5.05
A week ago Wed. 3,901 4,331 4,639 4,977
About a month ago 4,255 4,708 5 5,319
Year ago Avg 3,148 3,502 3,776 3,276

At the other end of the spectrum, about 11 US metro areas have gas prices below $3.20. Texas and Georgia have four cities with an average gas price below $3.20. This week McAllen-Edinburg-Mission of Texas is the cheapest metro area where a gallon of gas will cost you $3.091.

State gas prices August 29, 2022

status regular Middle grade Premium diesel
Alabama 3,443 3,818 4.2 4,802
Alaska 4,849 5.02 5.207 5,288
Arizona 4,002 4,293 4,569 4,987
Arkansas 3,353 3,697 4,042 4,755
California 5,276 5,472 5,622 6.3
Colorado 3,812 4.16 4,457 4,791
Connecticut 3,881 4,443 4,804 5.161
Delaware 3,692 4,198 4,462 4,829
District of Columbia 4,058 4,656 5,016 5,292
Florida 3,609 4,006 4,329 4,845
Georgia 3,381 3,768 4.134 4,717
Hawaii 5,306 5,523 5,779 6,099
Idaho 4.59 4,822 5,038 5.116
Illinois 4,166 4,641 5,017 5,193
Indiana 3,819 4,235 4,587 5,273
Iowa 3,516 3,794 4,245 4,909
Kansas 3,535 3,818 4.134 4,803
Kentucky 3,462 3,835 4,189 4,917
Louisiana 3,407 3,767 4,128 4.68
Maine 4.014 4,422 4,772 5,195
Maryland 3,786 4,298 4,573 4,957
Massachusetts 4,061 4,598 4,907 5,196
Michigan 3,829 4,216 4,601 5,334
Minnesota 3,784 4.138 4,498 5,028
mississippi 3,372 3.71 4.08 4,655
Missouri 3,459 3,782 4,074 4,789
montana 4.113 4.39 4,692 4.92
Nebraska 3,622 3,826 4,295 4,855
snowfall 4,873 5.121 5,317 5,189
New Hampshire 3,948 4,437 4,787 5.123
New Jersey 3,949 4,516 4,772 5.004
New Mexico 3,746 4,063 4,357 4,888
New York 4.141 4,592 4,931 5,344
North Carolina 3,547 3,921 4,272 4,934
North Dakota 3,798 4.12 4,521 4,881
Ohio 3,546 3,928 4.29 5,212
oklahoma 3,467 3,785 4,036 4,718
Oregon 4,785 4,974 5,193 5,637
pennsylvania 4.135 4,517 4,776 5,321
Rhode Island 3,957 4.55 4,854 5.121
South Carolina 3,453 3.83 4,182 4,857
South Dakota 3,782 3,991 4,471 4.84
Tennessee 3,444 3,823 4,185 4,782
Texas 3,374 3,736 4,066 4,653
Utah 4,474 4,693 4,889 4.85
Vermont 4.123 4,646 5,062 5,088
virginia 3,641 4,058 4,391 4,935
Washington 4,736 4,952 5,154 5,612
West Virginia 3,797 4,062 4,321 5.107
Wisconsin 3,613 4,024 4,438 4,955
Wyoming 3.97 4.134 4,439 4,918

Get the latest Small Business Trends headlines. Follow us on Google News.

Image: Envato Elements






Source link

Leave a Comment