By Mark Huffman
ConsumerAffairs.Com
September 3, 2010
Motorists are enjoying lower prices for fuel heading into the
Labor Day weekend, as many Americans hit the road in a final summer
fling.
The nationwide average price of self-serve regular gas is $2.681 a gallon, fractionally lower than last Friday, according to AAA. While the decline in gas prices has slowed in the last week, prices are down about a dime a gallon in the last three weeks.
Today's average price of diesel fuel is $2.953, compared with $2.959 a week ago.
Prices fell throughout much of August as more evidence emerged that the economy is not rebounding as fast as many economists predicted. That sent oil prices falling toward the $70 a barrel mark, pulling retail gas prices down with them.
The U.S. Energy Information Administration this week reported oil inventories in the latest week rose more than expected, but product stockpiles dropped. Crude oil inventories for the week ended Aug. 27 increased 3.4 million barrels. Gasoline stocks fell 200,000 barrels; analysts expected a drop of one million barrels.
10 percent travel increase
"AAA is forecasting a 10 percent increase in travel over the Labor Day holiday weekend, with 90 percent of travelers taking trips by automobile," said Andrew Delmege, AAA's manager of regulatory affairs. "The good news for drivers is that they will be able to factor in a reliable, consistent fuel price in their travel budgets."
The states with the most expensive gasoline today are:
Alaska ($3.525)
Hawaii ($3.459)
California ($3.066)
Washington ($3.048)
Oregon ($2.976)
Idaho ($2.986)
Utah ($2.922)
Nevada ($2.893)
Montana ($2.894)
New York ($2.829)
The states with the least expensive gasoline today are:
South Carolina ($2.447)
Mississippi ($2.493)
Tennessee ($2.501)
Missouri ($2.501)
New Jersey ($2.502)
Alabama ($2.507)
Virginia ($2.509)
Texas ($2.514)
Georgia ($2.539)
Louisiana ($2.547)
