But Californians can enjoy paying far more per gallon – $2.721 on Monday, just about where it was a year ago and down perhaps all of 15 cents from this time in 2009.
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In the Lower 48 states, Tulsa, Oklahoma has the lowest average price of regular gasoline, at $1.72.
That’s a 1.4 percent increase over last year, and the seventh consecutive year of year-end holiday travel growth. This year, prices are down because of an oversupply of oil worldwide.
“Global oil prices hit their lowest levels since 2009 over the past week and the sentiment that prices will remain lower for longer is gaining traction”, said Mark Jenkins, spokesman for AAA. The average price in Columbus is $1.77 and the average price in Cincinnati is $1.80, according to GasBuddy’s calculations.
“Here in Greater Cincinnati and across the country, drivers can celebrate lower gas prices this holiday season”, said Cheryl Parker, spokeswoman for Cncinnati’s AAA office. Fracking activity in states, particularly North Dakota, has been gutted by oil prices which are lower than their cost of production.
Americans have saved about $100 billion on fuel this year, which comes to more than $350 a person, according to Michael Green, a spokesman in Washington for AAA.
Chicago prices are at $2.31 per gallon.
Falling gas prices are the result of falling crude oil prices, which is at its lowest point in more than five years.
Nationally, prices fell 1.6 cents to $1.99 per gallon.
AAA said the trend is likely to continue through 2016 which should keep gas prices low.
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In Bridgeville, the average pump price among four local gas stations was $1.93, while Rehoboth Beach’s six outlets averaged $1.95, according to AAA. “That’s because demand will begin to climb approaching the spring, as well as federal regulations that require refineries to shift from winter-blend gasoline to summer blend”.
