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Summer Driving Ends, Gas Prices Hold at $2.79

National average fell four cents in the last week

By Joe Benton
ConsumerAffairs.com

September 20, 2007

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The summer driving season has ended, taking some of the pressure off gas prices. In the past week, the national average price for a gallon of regular gasoline fell by almost four cents to $2.79.

One month ago the average price for regular self-serve gasoline was $2.77 a gallon and one year ago a gallon sold for an average price of $2.47.

Mid-grade gasoline now averages $2.96 and premium goes for $3.07.

Gasoline in selling for an average price above the $3 mark in only four states -- North Dakota, Illinois, Hawaii and Alaska.

In coming weeks, consumers might see gasoline prices continue to fall. Demand is down, refineries are now distributing the less expensive winter grade fuel, and U.S. winter fuel standards broaden access to European supplies.

Last week, OPEC agreed to increase oil production by 500,000 barrels per day.

Troublesome tropical storms are still raising hurricane concerns in the Gulf Coast region sand could push prices up but once the hurricane season passes, fuel prices should move lower.

The cheapest gallon of regular gasoline is on sale in Indianapolis, Indiana for $2.16 and New Jersey has the lowest statewide average price at $2.53.

Here is a look at some gasoline prices form around the country in the ConsumerAffairs.com Gas Price Round Up.

Oregon: The statewide average continued its upward trek, but by a mere one-tenth of a cent to $2.82.

Oregon's average gasoline price ranks 21 in the nation.

Hawaii has the highest statewide average price at $3.22; in the contiguous U.S., North Dakota has the highest at $3.06, and New Jersey's is lowest at $2.53.

California's average price rose to $2.93, Washington's is up to $2.90, Idaho's inched up to $2.79, and Nevada's went up to $2.81.

The national average diesel price went up to $2.998 per gallon. Oregon's average diesel price now stands at $3.01.

South Dakota: Gasoline prices across Sioux Falls have dropped as much as 7 cents in the past week.

“We’re finally starting to see some seasonal fall-off,” said Mark Madeja, South Dakota AAA spokesman. “We’re starting to see this where it should have been a few weeks ago.”

The average price for regular gasoline in Sioux Falls is $2.91.

Indiana: Gas prices at some Indianapolis stations have taken a plunge, dropping as low as $2.16 for a gallon of regular. The average price for a gallon of regular gas in Indianapolis is just over $2.72. Several south side gas stations also saw a price drop Monday and drivers took advantage.

Drivers lined up to fill up on cheap gasoline at one station on U.S. 31 where regular gas was going for $2.33 a gallon.

Experts say the low prices may stick around for a while, since the summer driving season has come to a close and the fuel industry has begun to switch over to the cheaper winter gasoline blends.

"The industry as a whole is backing away from the summer blend fuels and switching to winter blends which are cheaper to produce and it makes it better on the marketplace as far as availability," Greg Seiter with AAA Hoosier Motor Club said.

AAA said the gas industry has to produce a more expensive blend of fuel in the summer because of EPA rules.

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