Gas Prices Continue to Slide as Expected

Gas Prices Reach Half-Year Low

Retailers this week began selling winter blends of gasoline that are cheaper to produce because they don’t have to meet more-stringent pollution requirements mandated during warmer months in many parts of the country. The national average for a gallon of regular unleaded gas fell 6 cents the past week to $3.36, according to Thursday’s AAA Daily Fuel Gauge Report, 15 cents lower than a year ago and the lowest on this date since 2010, when lingering effects of the economic recession dampened demand. Diesel fuel declined 2 cents the past week to $3.77, 17 cents lower than on Sept. 18, 2013.

Motorists in all but a few states were paying less for gas than a year ago — significantly less in some. In New Jersey, for example, the statewide average of $3.22 for regular unleaded was 22 cents lower than a year ago, and in Minnesota the $3.23 average was 25 cents lower. Motorists in Iowa and Kansas were paying 30 cents a gallon less than at this time last year.

The lowest gas prices were concentrated in Southern states. Mississippi had the lowest statewide average, $3.10, followed by South Carolina, $3.11, and Alabama and Virginia, $3.13. Hawaii had the most-expensive gas, with a $4.25 average. It was the only state above $4 after prices fell 3 cents in Alaska the past week to $3.97. Oregon and Washington were next-highest at $3.80.

AAA identifies the Midwest as having the greatest price volatility because of frequent refinery issues, and price swings over the past week showed that. Statewide averages fell 8 cents the past week in Illinois and Minnesota, 12 cents in Ohio, and 13 cents in Indiana and Michigan. Prices have fallen 23 cents in Ohio over the past two weeks, but that was after they jumped 11 cents the previous week.

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