But luckily, this weekend gas prices may be the cheapest it has been in years. The national average has decreased 7.4 cents per gallon during the last month and stands 28 cents per gallon lower than this day one year ago.
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Tucson now has Arizona’s lowest average gasoline price at $1.94 a gallon and Flagstaff the highest at $2.36.
As the three-day holiday weekend arrives, motorists continue to enjoy the cheapest summer at the pump since 2004, saving $18.9 billion over last summer’s prices, analysts at GasBuddy.com said in a report. In addition, as USA production has increased over the last several years, oil producing countries have been fighting to win back market share.
“If OPEC should reach an agreement to limit production next month, which at this point seems highly unlikely, pump prices could jump by 10 to 15 cents”, said Weinstein.
Analysts say the cheaper prices have come amid the global glut in supply and increased production. Saudi Arabia was a key player in driving oil prices down by announcing a new strategy to pump as much as they could late in 2014.
As Labor Day creeps closer and closer gas prices may creep up just a bit more in prices.
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SC has the lowest average gas price among states in the continental U.S.at $1.96 a gallon and California the highest at $2.68. “We’re expecting it to be pretty busy, probably the busiest Labor Day holiday weekend we’ve seen in a number of years”.
