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Gas Prices Continue Dropping

gas prices continue droping

The national average gas price across the US continues its dip on Monday, September 12, 2022, reaching $3.716. This is a drop of more than 6 cents in just one week, according to the American Automobile Association (AAA). This week’s trends follow more than two months of gradual decline in gas prices after reaching a record high of $5.016 in June.

Gas Prices Drop for Over two Months

The average gallon of gas price is currently 6 cents less than one week ago and 21cents lower than one month ago, but still 66 cents shy of the $ 3.175 price tag a year ago. Across the nation, gas prices fluctuated from as high as $5.405 to a low of $ 3. 144. Over the past week, gas prices have seen prices go down from 17 cents to 2 cents across the nation.

California continues to experience the highest gas prices in the nation with the average gallon of gas price going for $5.405 a gallon at the pump, up by  2 cents from last week. It remains the state with the most expensive gas price eclipsing the national average by $1.68. Some counties in California continue to see steep gas prices above the $ 5.60 mark while Mono county has the most expensive gas price with a whopping $ 6.429 for a gallon of gas.

Highest Gas Prices

State Regular Mid-Grade Premium Diesel  
California 5.405 5.584 5.738 6.314
Hawaii 5.284 5.527 5.733 6.113
Nevada 4.904 5.133 5.336 5.224
Alaska 4.705 4.895 5.08 5.204
Oregon 4.684 4.871 5.071 5.557

Similarly, 21 other states continue to see gas prices above the current national average of $3.716 a gallon. Hawaii, Alaska, Nevada, Oregon, and Washington continue to see average gas prices above the $4.60 mark. Despite gas prices going down in most states Hawaii, California, and Nevada have seen their gas prices go up by between 6 to 10 cents in just over a week.

The states with the cheapest gas prices across the nation include Arkansas, Texas, and Mississippi with a gallon of gas price falling below last year’s national average of $ 3.175. The average gallon of gas in Arkansas is $3.161 while Mississippi and Texas go for 3.158 and 3.144 respectively.

Lowest Gas Prices 

State Regular Mid-Grade Premium Diesel  
Texas 3.144 3.515 3.845 4.593
Mississippi 3.158 3.512 3.875 4.61
Arkansas 3.161 3.51 3.839 4.707
Louisiana 3.198 3.562 3.912 4.615
Georgia 3.242 3.634 3.996 4.686

In terms of price decline Maryland, Delaware, and Connecticut have seen their gas prices go down by more than 15 cents points.

Could We See Gas Going Down Further?

Gas prices continue to see drops for most states except for some particularly Hawaii, Californian, Alaska, and Nevada which continue to see gas prices above the national average. According to new data from the Energy Information Administration (EIA), gas demand last week increased slightly from 8.59 million barrels a day to 8.73 million barrels a day with domestic gas stocks rising by 300,000 barrels to reach 214.8 million barrels.

Gas Price Trends

  Regular Mid-Grade Premium Diesel E85
Current Avg. 3.716 4.159 4.468 5.011 3.037
Yesterday Avg. 3.718 4.166 4.474 5.013 3.046
Week Ago Avg. 3.786 4.218 4.528 5.068 3.102
Month Ago Avg. 3.978 4.426 4.721 5.06 3.253
Year Ago Avg. 3.175 3.531 3.806 3.295 2.656

Although gasoline demand has increased slightly, lower oil prices have led to falling pump prices. If gasoline demand begins to subside, as it typically does post-Labor Day, pump prices will likely continue to decrease.

 

State Gas Prices September 12, 2022

State Regular Mid-Grade Premium Diesel  
Alaska 4.705 4.895 5.08 5.204
Alabama 3.294 3.677 4.059 4.757
Arkansas 3.161 3.51 3.839 4.707
Arizona 3.989 4.271 4.548 4.97
California 5.405 5.584 5.738 6.314
Colorado 3.669 4.016 4.31 4.749
Connecticut 3.592 4.164 4.545 5.12
District of Columbia 3.84 4.432 4.824 5.077
Delaware 3.421 3.932 4.219 4.693
Florida 3.439 3.846 4.153 4.762
Georgia 3.242 3.634 3.996 4.686
Hawaii 5.284 5.527 5.733 6.113
Iowa 3.381 3.673 4.109 4.866
Idaho 4.469 4.691 4.926 5.066
Illinois 4.012 4.49 4.881 5.231
Indiana 3.798 4.231 4.596 5.356
Kansas 3.364 3.644 3.95 4.794
Kentucky 3.347 3.743 4.086 4.896
Louisiana 3.198 3.562 3.912 4.615
Massachusetts 3.803 4.372 4.662 5.083
Maryland 3.51 4.039 4.312 4.792
Maine 3.77 4.196 4.524 5.119
Michigan 3.844 4.239 4.645 5.389
Minnesota 3.654 4.006 4.357 4.998
Missouri 3.304 3.628 3.923 4.773
Mississippi 3.158 3.512 3.875 4.61
Montana 3.95 4.226 4.508 4.915
North Carolina 3.412 3.791 4.14 4.795
North Dakota 3.646 3.979 4.364 4.871
Nebraska 3.495 3.702 4.17 4.85
New Hampshire 3.707 4.249 4.58 5.003
New Jersey 3.704 4.287 4.54 4.939
New Mexico 3.569 3.897 4.178 4.823
Nevada 4.904 5.133 5.336 5.224
New York 3.889 4.356 4.702 5.207
Ohio 3.527 3.929 4.299 5.168
Oklahoma 3.28 3.603 3.823 4.671
Oregon 4.684 4.871 5.071 5.557
Pennsylvania 3.922 4.304 4.564 5.149
Rhode Island 3.692 4.282 4.611 4.971
South Carolina 3.315 3.696 4.037 4.786
South Dakota 3.676 3.884 4.341 4.843
Tennessee 3.263 3.631 3.997 4.717
Texas 3.144 3.515 3.845 4.593
Utah 4.314 4.533 4.734 4.867
Virginia 3.478 3.904 4.232 4.799
Vermont 3.886 4.461 4.849 5.015
Washington 4.652 4.877 5.076 5.538
Wisconsin 3.465 3.892 4.303 4.949
West Virginia 3.651 3.921 4.164 4.902
Wyoming 3.812 4.012 4.274 4.883

Image: Envato Elements

This article, “Gas Prices Continue Dropping” was first published on Small Business Trends

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