Gas Prices Keep Sinking in Time for Summer Travel

The national average price for a gallon of gas is $3.56, according to AAA’s Daily Fuel Gauge Report. That’s down 6 cents in a week and 20 cents from last month. A year ago, gas prices were also at $3.76.

Diesel prices are declining at a similar rate. A gallon of diesel now averages $3.86 compared with $4.07 last month.

More-affordable gas prices may be one reason folks are back to buying large SUVs and trucks. As we noted last week, combined sales for the Ram, Ford F-Series, Chevrolet Silverado and GMC Sierra rose 26.5% in May and 14.1% for the year.

While most states and the District of Columbia are seeing prices significantly below what they were a year ago, eight states — Alaska, Arizona, California, Hawaii, Idaho, Nevada, Oregon and Washington — are seeing just as significant an increase. Oregon’s average price is 33 cents higher versus a year ago while Hawaii’s average price is 47 cents higher.

By David Thomas | June 7, 2012 | Comments (1)

Comments 

LC

Those price increases on the west coast are caused by refinery fires and scheduled shutdowns, showing once again that oil prices do not alone drive gas prices.

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