Carson City is registering Nevada’s lowest price, at $1.90 a gallon. Extremely cheaper gas prices are found in Texas, Missouri, Ohio, Indiana, Illinois Michigan and Kansas.
Advertisement
Chicago drivers are getting a pleasant surprise at the gas pump: gas under $2 per gallon, a price motorists haven’t seen in seven years.
The average gas in the Dayton area was $1.44 a gallon today. Senior Petroleum Analyst for GasBuddy.com Patrick DeHaan says gas prices are finally getting back down to earth after the refineries were refurbished.
More: What do low gas prices mean for MI?
Crude oil prices have dropped by around 70 percent since the middle of 2014, during which time the US dollar has risen by around 20 percent against other currencies.
Iowa’s neighbors are seeing some of the lowest gas prices in more than a decade, and though not quite that low, the Hawkeye State is still seeing some of the cheapest prices in years.
Average retail gasoline prices in Arkansas have fallen 4.4 cents per gallon in the past week, averaging $1.52 per gallon yesterday, according to GasBuddy’s daily survey of 1,826 gas outlets in Arkansas. “It depends on how quickly they get rid of that winter gasoline…”
Companies are now trying to run through “huge” supplies of winter-blend gasoline, Laskoski said, which will be swapped out for a more fuel-efficient, but more expensive, blend in the summer months, as mandated by the EPA. A spokesperson from the Michigan Chamber of Commerce also said that the low prices were helping consumers. “But”, DeHaan said, “Don’t get too relaxed- the shift in specifications will lead to an eventual lift in prices once winter gasoline is gone”.
Advertisement
But don’t expect the bargain fuel prices to last forever, even if oil prices continue to plummet. This excludes those in the Strategic Petroleum Reserve, and puts USA crude oil inventories at “near levels not seen for this time of year in at least the last 80 years”.
