AAA: 2012's Average Gas Price to Finish at Record High

&&&&&EMBEDDED_ELEMENT_START&&&&& {“id”:1420668703635,”originalName”:”2015_03_04_17_07_09_507_http___blogs_cars_com__a_6a00d83451b3c669e2017ee62f3c7b970d_800wi”,”name”:”MMS ID 56397 (created by CM Utility)”,”URI”:”/22/1046898722-1425510430122.”,”createDate”:”2015-03-04 05:07:10″,”metadata”:{“AUTHOR”:”automatic-content-migration”,”KEYWORDS”:””},”href”:”×1170/22/1046898722-1425510430122.”,”description”:”Came from”,”externalid”:”56397″,”updatedby”:”cmuadmin”,”updateddate”:1425511636544,”associations”:{}} &&&&&EMBEDDED_ELEMENT_END&&&&&

Despite recently hitting the lowest national average regular unleaded gas price since summer, AAA reported that the average price remains at a record high for this time of year; the national average has exceeded the daily record high on 106 consecutive days for a total of 220 days this year.

That’s in addition to the near-certainty that 2012 will end with the highest annual average regular unleaded gas price on record, which to date stands at $3.63 a gallon. The previous record was for 2011 with an annual average of $3.51 a gallon; prices would have to fall to an average of $2.05 a gallon from now until year’s end to fall short of that, AAA stated.

However, it appears motorists will continue to catch a break in the short term as gas prices are expected to continue plummeting through year’s end. Prices dipped 11.9 cents a gallon, or 3.38%, in November alone, the fifth monthly decline this year. The national average on Dec. 11 for a gallon of regular unleaded was $3.33, the lowest price since July 12, AAA stated. The monthly average in November was $3.44 a gallon, which is also the lowest since July. Gas prices have fallen nearly 50 cents since Sept. 14 and could finish the year as low as $3.20, AAA forecasted.

“Prices unfortunately did not fall as quickly as most of us would have liked as a result of factors ranging from fighting in the Middle East to optimism over the ‘fiscal cliff,’ ” AAA spokesman Avery Ash said in a statement.

The average price of regular unleaded gas in areas hit hardest by Hurricane Sandy, including New Jersey, New York City and Long Island, have returned to pre-storm levels now that gas stations are again receiving regular fuel shipments, AAA stated.

Gas Prices Begin Slow Climb
Midwest Sees Dramatic Spike in Gas Prices
Gas Prices Spiking

Latest expert reviews