For Sale
Finance News

Gas Prices Continue to Slide Since June

gas prices continue to slide since june

The national average price of a gallon of gasoline has gone down by five cents reaching $3.853 a gallon, according to the American Automobile Association (AAA). Gas prices have continued declining since their peak of $5.06 in mid-June.

The continued decrease in gas prices has brought some relief to consumers at the pump the last time gas prices reached the $3.85 mark was in March 2022.

Who is Paying more and Who is paying Less?

The national average gas price has now dropped for the 75th consecutive day. Gas prices have dropped by over 20 cents since July when it had gone for $4.278 a gallon. Despite the rapid decline gas prices are still 70 cents higher than this time last year when a gallon of gas went for $3.148. Although not as low as the national average from a year ago, the declining costs are much welcome for motorists.

After reaching record highs, gas prices are now easing back towards more familiar levels, although they do still remain quite high in certain states. Since last week some eight states saw gas prices at the pump go down by over 10 cents. The states of Maine, Connecticut, Rhode Island, and New Jersey all saw average gas prices go down by over 11 cents. While Tennessee, Missouri, South Carolina, Hawaii, Iowa, and Alabama saw the least change in gas prices with them seeing less than 3 cents drop in prices within one week.

The state of Hawaii continues to see high gas prices with drivers on average paying $5.312 a gallon. Hawaii has taken the mantle of having the most expensive gas prices from California, average gas prices in California now stand at $5.278 a gallon. This is despite gas prices dropping by 2 cents in Hawaii and four cents in California from last week.

Highest Gas Prices

State  Regular  Mid-Grade  Premium  Diesel 
Hawaii 5.306 5.523 5.779 6.099
California 5.276 5.472 5.622 6.3
Nevada 4.873 5.121 5.317 5.189
Alaska 4.849 5.02 5.207 5.288
Oregon 4.785 4.974 5.193 5.637

States with the least expensive gas prices across the nation include Arkansas, Mississippi, Georgia, and Texas saw a regular gallon of gas going for under $3.40.

Lowest Gas Prices

State  Regular  Mid-Grade  Premium  Diesel 
Arkansas 3.353 3.697 4.042 4.755
Mississippi 3.372 3.71 4.08 4.655
Texas 3.374 3.736 4.066 4.653
Georgia 3.381 3.768 4.134 4.717
Louisiana 3.407 3.767 4.128 4.68

Which Metro areas have the highest gas prices?

Some 37 Metro areas across the US continue to see average gas prices that even go beyond June’s $5.06 record. Out of these 30 of the highest prices are located in California. San Luis Obispo-Atascadero-Paso Robles has the most expensive gas prices with gas going for $5.644 a gallon.

Gas Price Trends

  Regular Mid-Grade Premium Diesel
Current Avg. 3.85 4.279 4.588 5.057
Yesterday Avg. 3.853 4.29 4.595 5.05
Week Ago Avg. 3.901 4.331 4.639 4.977
Month Ago Avg. 4.255 4.708 5 5.319
Year Ago Avg. 3.148 3.502 3.776 3.276

At the end of the spectrum, some 11 metro areas in the US have gas prices below the $3.20 mark. Texas and Georgia have four cities with average gas prices going for less than $3.20. This week McAllen-Edinburg-Mission of Texas is the cheapest metro area where a gallon of gas will set you back $3.091.

State Gas Prices August 29, 2022

State Regular Mid-Grade Premium Diesel
Alabama 3.443 3.818 4.2 4.802
Alaska 4.849 5.02 5.207 5.288
Arizona 4.002 4.293 4.569 4.987
Arkansas 3.353 3.697 4.042 4.755
California 5.276 5.472 5.622 6.3
Colorado 3.812 4.16 4.457 4.791
Connecticut 3.881 4.443 4.804 5.161
Delaware 3.692 4.198 4.462 4.829
District of Columbia 4.058 4.656 5.016 5.292
Florida 3.609 4.006 4.329 4.845
Georgia 3.381 3.768 4.134 4.717
Hawaii 5.306 5.523 5.779 6.099
Idaho 4.59 4.822 5.038 5.116
Illinois 4.166 4.641 5.017 5.193
Indiana 3.819 4.235 4.587 5.273
Iowa 3.516 3.794 4.245 4.909
Kansas 3.535 3.818 4.134 4.803
Kentucky 3.462 3.835 4.189 4.917
Louisiana 3.407 3.767 4.128 4.68
Maine 4.014 4.422 4.772 5.195
Maryland 3.786 4.298 4.573 4.957
Massachusetts 4.061 4.598 4.907 5.196
Michigan 3.829 4.216 4.601 5.334
Minnesota 3.784 4.138 4.498 5.028
Mississippi 3.372 3.71 4.08 4.655
Missouri 3.459 3.782 4.074 4.789
Montana 4.113 4.39 4.692 4.92
Nebraska 3.622 3.826 4.295 4.855
Nevada 4.873 5.121 5.317 5.189
New Hampshire 3.948 4.437 4.787 5.123
New Jersey 3.949 4.516 4.772 5.004
New Mexico 3.746 4.063 4.357 4.888
New York 4.141 4.592 4.931 5.344
North Carolina 3.547 3.921 4.272 4.934
North Dakota 3.798 4.12 4.521 4.881
Ohio 3.546 3.928 4.29 5.212
Oklahoma 3.467 3.785 4.036 4.718
Oregon 4.785 4.974 5.193 5.637
Pennsylvania 4.135 4.517 4.776 5.321
Rhode Island 3.957 4.55 4.854 5.121
South Carolina 3.453 3.83 4.182 4.857
South Dakota 3.782 3.991 4.471 4.84
Tennessee 3.444 3.823 4.185 4.782
Texas 3.374 3.736 4.066 4.653
Utah 4.474 4.693 4.889 4.85
Vermont 4.123 4.646 5.062 5.088
Virginia 3.641 4.058 4.391 4.935
Washington 4.736 4.952 5.154 5.612
West Virginia 3.797 4.062 4.321 5.107
Wisconsin 3.613 4.024 4.438 4.955
Wyoming 3.97 4.134 4.439 4.918

Image: Envato Elements

This article, “Gas Prices Continue to Slide Since June” was first published on Small Business Trends

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button