Gas prices across most of the country continue to slide during the peak road-trip season due to abundant supplies, AAA reports. National pump prices have fallen 50 of the past 51 days for a total of 25 cents per gallon. The national average price for regular unleaded gasoline has declined to $2.13 per gallon, which is the lowest level in the past 100 days and the lowest price for this date since 2004.
Gas prices dropped in 45 states and Washington, D.C. over the past week, though several states did post increases (Indiana +9 cents, Utah +3 cents, Ohio +3 cents, Missouri +1 cent, and Idaho up fractions of a penny). Despite the recent uptick in several states, prices in every state are lower than both one month ago and one year ago.
As of yesterday, more than 40 percent of gas stations nationwide were selling gasoline for $2.00 per gallon or less, compared to just a handful on this same date last year. Fewer than one percent of stations nationwide are selling gasoline for more than $3.00 per gallon, compared to 13 percent of stations one year ago.
With gasoline supplies high and oil prices low, pump prices are likely to remain relatively cheap through the remainder of the summer and into the fall. Full report.
