The AAA Fuel Gauge Survey shows the national average price of regular gas is $2.58 a gallon, two cents lower than last Friday. A year ago the price of gas averaged $2.83 a gallon. The average price of premium is $3.17 a gallon, two cents less than a week ago. The average price of diesel fuel is $2.93 a gallon, a penny less than last week.
Gasoline prices continue to benefit from lower oil prices, with concerns about a slowing global economy keeping crude prices low. The price of oil is around $57 a barrel, and though it’s up for the week, it’s expected to go lower in the weeks ahead.
With the U.S. economy still humming -- the latest reading on economic growth is 2 percent -- motorists haven’t cut back on their fuel purchases. The Energy Information Administration (EIA) reports gasoline demand last week nearly hit 10 million barrels a day, up sharply from the previous week. Supplies of gasoline fell by more than two million barrels.
“While demand chips away at supply, it’s not at a high enough rate to significantly impact gas prices,” AAA said in its latest market update. “In fact, the national average is cheaper week-over-week by three-cents.”
Most states saw small declines in the price of gasoline during the week. Arizona was an exception, as prices at the pump jumped by five cents a gallon within that state.
The states with the most expensive regular gas
These states currently have the highest prices for regular gas, according to the AAA Fuel Gauge Survey:
Hawaii ($3.66)
California ($3.57)
Washington ($3.20)
Nevada ($3.12)
Oregon ($3.04)
Alaska ($3.01)
Utah ($2.83)
Idaho ($2.81)
Arizona ($2.82)
New York ($2.78)
The states with the cheapest regular gas
The survey found these states currently have the lowest prices for regular gas:
Louisiana ($2.19)
Mississippi ($2.20)
South Carolina ($2.23)
Alabama ($2.22)
Arkansas ($2.26)
Oklahoma ($2.29)
Tennessee ($2.28)
Texas ($2.30)
Missouri ($2.39)
Virginia ($2.32)
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