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MA gas prices drop to $2 mark
Domestic supplies are about 29 percent higher than a year ago, while oil prices are about $70 per barrel cheaper than in the summer of 2014, according to AAA, which said a $10 decline in oil can reduce gas prices by almost 25 cents per gallon.
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AAA Carolinas projected a statewide average of gas price as $1.97 a gallon which is the lowest level since 2004.
AAA, the national motor club that tracks prices based on motorists’ credit and debit card purchases, also reported that Springs’ prices averaged $1.81 on Monday for unleaded regular, up 1.7 cents from last week. Auto group AAA estimates low gas prices have saved Americans more than $115 billion so far this year, or more than $550 per licensed driver.
The nationwide average price for a gallon of regular gasoline Monday fell below $2 for the first time since March 2009.
The website noted that even though gas prices have been in retreat for over a year, the USA average has come up short of $1.99 a gallon because of slower declines in the West.
Cleveland- $1.85/g, down 6.3 cents per gallon from last week’s $1.92/g. It’s expected that this increase will be temporary and the prices will eventually decrease as we head into the new year. That’s up 1.4 percent from a year ago.
Oil prices have been falling steadily since an OPEC meeting on December 4, when the world’s top oil exporters failed to reach an agreement on how much oil to produce.
“I think that jumpy trend will continue but prices will remain seasonally low for the next one to two months”.
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Those lower prices have Americans hitting the road. The planned maintenance reduces fuel production and typically leads to higher gas prices.