WASHINGTON – The national average price of gas has fallen for ten straight days, but remains the highest price for this calendar date since 2008. For the first time since June 11, the national average price for regular unleaded gasoline reflected a month-over-month discount. Today’s average is $3.65 per gallon. This price is two cents less than one week ago and fractions of a penny less than one month ago, but it remains 18 cents more than this date in 2013.
With Independence Day in the books, this year’s holiday registered the highest price since 2008 at $3.66. This surpassed the price per gallon for the holiday from each of the previous five years: 2013 ($3.48); 2012 ($3.34); 2011 ($3.57); 2010 ($2.74); and 2009 ($2.62), but was still well below the all-time-high for the date of $4.10 in 2008.
In Iowa, prices range between $3.59 to $3.50.
The pump price in four states continues register above $4.00 per gallon: Hawaii ($4.33), Alaska ($4.22), California ($4.14) and Washington State ($4.01). While prices in all but three states (Idaho, Wyoming and Utah) are higher than the same date last year, prices in 38 states have dropped over the past week, led by a handful of Midwestern states: Michigan (-10 cents), Ohio (-7 cents), Missouri (-6 cents), Kentucky (-6 cents), Illinois (-5 cents) and Minnesota (-4 cents). Prices over the past two weeks have been more evenly split. Prices in 23 states and Washington, DC have increased – led by Alaska (+7 cents), Utah (+6 cents) and Idaho (+5 cents) – while prices in 27 states have fallen – led by Ohio (-17 cents), Indiana (-12 cents) and Illinois (-12 cents). With high wholesale gasoline prices beginning to subside in many parts of the country, AAA expects pump prices for many US motorists to continue to tick lower over the coming week.
Violence in Iraq continues to impact global oil prices, but as production in the south of the country remains unaffected, the fear of a disruption to supply has abated. Market watchers are keeping a close eye on the situation, but the risk premium that had pushed oil prices to 2014 highs has subsided in recent trading sessions. These elevated oil prices have meant stubbornly high pump prices for motorists, but as oil prices have eased retail gas prices have finally started to follow suit.
[poll random]
This is just a plan to make us feel good, so we don’t complain to much when they raise the gas tax 12 cents. The government says that our roads are in bad shape and they don’t have the money to fix them. How about keeping some of the BILLIONS that we give to countries that don’t like us, and use it here in this country’s infrastructure.
Or the billions going to the illegal aliens.
Yes, I did I forget that…
How about a audit of what they are spending the transportation taxes on now. They refuse to do that because they divert funds from transportation to other things. Both party’s are guilty of that.