Gasoline prices begin to trend lower
Gasoline prices moved lower by 1 cent to $2.65 during the week ending Sept. 30, and 10 states saw their pump prices decline by at least 5 cents, according to AAA.
Prices for regular unleaded haven’t been significantly impacted by the attacks on Saudi Arabia’s oil facilities that took about 5% of the global oil supply offline in late September.
“Crude oil prices have dropped close to where they were right before the drone attacks on the Saudi oil facilities,” said Jeanette Casselano, AAA spokesperson. “This is helping to push gas prices cheaper in most of the country. Americans can expect this trend to continue, except for those filling-up on the West Coast, where refinery disruptions are causing spikes at the pump.”
The national price is 7 cents more expensive than a month ago and 22 cents cheaper than a year ago.
The week brought a mixed bag because West Coast states saw increases, led by California’s 28-cent move higher to an average of $4.02 per gallon. Midwest states mostly saw prices decline.
States with the largest weekly changes include California (up 28 cents), Ohio (down 15 cents), Nevada (up 13 cents), Michigan (down 12 cents), Kentucky (down 11 cents), Illinois (down 10 cents), Delaware (down 9 cents), Indiana (down 7 cents), Iowa (down 7 cents), and Minnesota (down 6 cents).
States with the lowest prices include Louisiana ($2.30), Mississippi ($2.30), South Carolina ($2.32), Arkansas ($2.32), Alabama ($2.33), Texas ($2.35), Virginia ($2.35), Oklahoma ($2.35), Missouri ($2.36), and Tennessee ($2.37).
Meanwhile, the average price for a gallon of diesel increased 1.5 cents to $3.066 per gallon, which is 24.7 cents lower than a year ago, according to the U.S. Energy Information Administration.
Source: Automotive Fleet