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Gas Prices Bottoming Out?

By Joe Benton
ConsumerAffairs.com

December 2, 2005

• Gas Prices Head Lower as Economy Slows • Gas Price Declines for 9 Days • Gas Prices Continue Downward Trend • Oil Prices Surge By Record $25 a Barrel • Gas Prices Drop for 5 Days • Price-Gouging Probes Spread to 6 States • Investigations of $5 Gas in North Carolina, Florida, and Virginia • Shortages, Price Hikes Follow Ike in Southeast • States Investigate Gasoline Price Gouging Claims • Pumping More U.S. Oil Won't Lower Prices, Consumer Group Says • Oil Prices Fall, Gas Prices Surge • Gas Prices Slide 8 Percent from Record --- • More ...

Gasoline is once again selling for less than $2 a gallon at many service stations throughout the country but the best of the gas price declines may be behind us.

With the arrival of winter and the onset of cold weather, the rate of decline has slowed.

In November prices fell in 5-cent chunks. Last week however, the price of a gallon of regular unleaded dropped just 2 cents to an average of $2.13 a gallon by week’s end.

In October the average price of a gallon of regular unleaded gasoline was $2.47. One year ago, that average price was $1.94 a gallon, according to the AAA of Hawthorne, Fla.

Diesel fuel costs are down as well, averaging $2.59 a gallon The average price was $3.03 a gallon one month ago and $2.16 a gallon one year ago.

The most expensive gallon of gasoline in the country is found in Paia, Hawai at $2.87. The least expensive gallon is found Brunswick, Ga. at $1.71.

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