Gasoline Prices 40 Cents Per Gallon Lower Than Last Year
The national average dropped more than 20 cents per gallon to $3.37 â€“ its lowest level since late January of this year. Compared to last year, prices are down by more than 40 cents per gallon. The good news for fleet managers is that many analysts are predicting further declines with some even saying that the national average could flirt with $3.00 per gallon before the year ends.
Already, 2.3% of all stations in the country are priced below $3.00 per gallon while only 1.1% are above $4.00. Last year, no stations were below $3.00 per gallon while nearly 17% were above $4.00. In some states, bargain hunters could find stations priced near $2.80. Missouri, as an example, has almost 30% of all its stations priced under $3.00 per gallon.
With the exception of Alaska and Hawaii, the most expensive state in the country is California with an average of $3.90 per gallon. But even in the Golden State, where gas prices are usually high, one could find stations with prices below $3.50 per gallon.
Analysts are not surprised by the dropping prices. It is typical for prices to fall after the high volume of drivers in the summertime and the switch back to the easier ways to make cheaper winter grade of fuel. This year is also benefitting from the relatively mild storm season. Though wild weather could still disrupt prices, most experts believe the remainder of the year should continue to see prices decline.
Meantime, diesel prices are hovering at $3.90 per gallon. Unfortunately, most market-watchers are more bullish on diesel and anticipate a slow but steady rise in prices.