The price of gasoline continues to come down, just not as quickly as it went up. A decrease in demand has increased supplies and removed some of the upward pressure on prices, at least in the short run.
AAA’s daily fuel price survey shows that the national average price of regular gas is $4.72 a gallon, a decline of 12 cents a gallon in the last seven days. But it’s still $1.58 a gallon more than a year ago.
The average price of premium gas is $5.55 a gallon, 10 cents less than a week ago. The average price of diesel fuel is $5.67 a gallon, nine cents a gallon less than last week.
“Domestic gasoline demand dipped recently, which took some of the pressure off of pump prices,” said Andrew Gross, AAA’s spokesperson. “About 80% of stations are now selling regular for under $5 a gallon,” “But July is typically the heaviest month for demand as more Americans hit the road, so this trend of easing prices could be short-lived.”
But Patrick DeHaan, head of petroleum analysis at GasBuddy, believes prices have more room to fall. On Twitter, he reports that 15 states now have at least one gas station selling regular fuel for below $4 a gallon. Nationwide, he says the average gas price could fall another 20 to 35 cents a gallon.
Illinois saw one of the biggest price drops this week, with the statewide average declining 14 cents a gallon. The statewide average fell 13 cents in Texas; 12 cents in Alabama; 11 cents in Tennessee and Kentucky; and 10 cents a gallon in South Carolina, North Carolina, and Mississippi.
States with the most expensive gas
These states currently have the highest prices for regular gas, according to AAA:
States with the cheapest gas
AAA reports that these states currently have the lowest prices for regular gas:
South Carolina ($4.25)
North Carolina ($4.39)