The motor club added that the most recent Department of Energy report cited domestic gasoline production as just 100,000 barrels per day short of the all-time record, lending further momentum to falling prices.
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Today’s national average price for regular unleaded gasoline is $2.23 per gallon, which is four cents per gallon less than a week ago, fifteen cents less than a month ago and 53 cents less than one year ago.
The summer forecast is about 1 percent lower than the previous forecast from June and 15 percent lower than the summer forecast for 2015.
SC and California hold the lowest and highest average price for the lower 48 states at $1.908 and $2.866 per gallon, respectively. Drivers across the USA are paying an average $2.22 per gallon, down 4 cents from a week ago.
The trend in prices contrasts with consumption expectations from the EIA. Some stations have E-10-blended gas for as little as $1.66 per gallon in Oklahoma City and $1.72 in Tulsa, though according to gasprices.aaa.com, both metros’ overall averages are higher than that.
Including the change in gas prices in Minnesota during the past week, prices yesterday were 50.5 cents per gallon lower than the same day one year ago and are 14 cents per gallon lower than a month ago. Areas nearby Texas and their current gas price climate: Midland Odessa- $2.13/g, down 3.1 cents per gallon from last week’s $2.16/g.
The association survey found El Paso with the most expensive gasoline statewide this week at $2.14 per gallon.
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