The national average gasoline price fell 3 cents to $2.58 for the week ending Feb. 12 following steadily increasing prices since the start of the year, reports AAA. It was the first weekly decline as tracked by the group.

Gasoline prices had increased nearly 5% from Jan. 2 to Feb. 5, when the national average reached $2.61 per gallon. For this week, the national average price increased six cents. It’s now 30 cents higher than a year ago.

“Gas price averages are less expensive for 78% of states compared to last Monday,” said Jeanette Casselano, AAA’s spokeswoman. “Motorists filling up in the Midwest, South and East Coast are most likely to see the positive change at the pump. Unfortunately, it's too early to know if this one-week decline is the start of a cheaper gas price trend.”

Gasoline demand reached 9.1 milion barrels per day, which was an increase of 169,000 barrels from a year ago.

States with the largest price decline included Indiana (14 cents), Michigan (11 cents), Kentucky (nine cents), Ohio (eight cents), and Illinois (six cents). States with the most expensive gasoline include Hawaii ($3.44), California ($3.35), Alaska ($3.04), Washington ($3), and Oregon ($2.89).

Meanwhile, the average price of a gallon of diesel fell 2.3 cents to $3.063, which is 49.8 cents higher than a year ago, according to the U.S. Energy Information Administration.

 

Source: Automotive Fleet

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