No End in Sight for Gas-Price Free Fall

GasPricesFall
Sure, the federal government has been shut down for more than a week, but look on the bright side: Gas is cheap right now and is only expected to get cheaper. By every measure — day, week, month and year — in every U.S. state and the District of Columbia, prices at the pump have fallen, and today's national average stands at $3.35 per gallon of regular unleaded gasoline. That's a nickel less than a week ago, 23 cents less than a month ago and 47 cents less than a year ago — the biggest year-over-year discount since the graduating class of 2013 started high school.

Moreover, the national average price of gas has tumbled for 36 straight days and by 25 cents, the longest streak of daily declines since fall 2008. The largest weekly price drops occurred in the Midwest and central U.S., led by discounts of more than a dime in Michigan, Indiana and Ohio; that's compared with South Carolina and Washington, D.C., where prices fell less than a penny.

Those same Midwestern and central states also enjoyed the greatest month-over-month relief, with 10 states seeing 30-cent dips. The smallest monthly declines — less than a dime — have occurred west of the Rockies in Alaska, Arizona, Washington, Oregon, Wyoming, Idaho, Nevada and California. Still, year-over-year, California’s gas prices have dropped by a whopping 80 cents since last year, a 30-cent better discount compared with the Midwest's year-over-year figure.

And the price plummet is not expected to end there. "AAA expects that retail prices will continue lower in the coming months, as sufficient supplies, flat demand and cheaper winter-blend gasoline mean motorists are likely to pay less to fill their tanks," AAA said in a statement.

Related
Gas Prices Down, Continue to Fall

Fuel Economy Falls Along With Gas Prices

AAA: 2012's Average Gas Price to Finish at Record High

By Matt Schmitz | October 9, 2013 | Comments (10)

Comments 

responder

Another reason to avoid buying a diesel car. Because demand for diesel fuel remains constant due to the trucking and heavy equipment, as gasoline falls to below $3 per gallon, diesel prices will remain higher and the disparity to gasoline will probably grow in the months ahead.

Highdesertcat

The price of gas will go back up when the winter-blends go into effect. Happens every year.

Enjoy it now, while you can.

Rick

DO NOT be fooled, gas is not cheap right now! We have been desensitized and assume that we are getting a break by prices not going above $4. Gas should be a $1.50 at the absolute most. $1 per gallon gas would be considered cheap.

Tony90019

@ Rick n Highdesertcat Completely Agree! To the writer of this piece It's the game they play with us. Maybe if they didn't control Congress n Political System we the public would see real price breaks.

RT

Make day-traders take possesion of the oil they trade and the short sales will stop and the price will go down. Stop using natural resources as a way to make money!! This is all due to George W. Bush who allowed this to happen on his watch to help out his Texas Oil pals. Thanks W!

So does this have anything to do with the government shut down? I'm OK with whatever reason.

d

gas jumped 8 cents this morn at a few stations here in NWFLA....SMH...

Others

For the last 3 consecutive years, gas prices were held above $3 / gallon.

On Sep 16 it was consecutive 1000 days and now another 95 days added for 3 years.

http://newsroom.aaa.com/2013/09/gas-prices-surpass-3-00-per-gallon-for-1000-consecutive-days-in-longest-streak-ever/

responder

I paid $3.04 today for regular - diesel is $4.

mike schwinn

MORE ELECTRIC VEHICLES , STOP FEEDIN THE MIDDLE EAST ,,,LOWER THE STRANGEL HOLD, ON AMERICA WITH HIGH PRICES , I WAS BORN HERE , I DONT WANT TO BE A SLAVE TO THE OIL INDUSTRY, ANY MORE , ELECTRIC VEHICLES ARE THE WAY TO FREEDOM NOT OIL .....

Post a Comment 

Please remember a few rules before posting comments:

  • If you don't want people to see your email address, simply type in the URL of your favorite website or leave the field empty.
  • Do not mention specific car dealers by name. Feel free to mention your city, state and brand.
  • Try to be civil to your fellow blog readers. This blog is not a fan or enthusiast forum, it is meant to help people during the car-buying process and during the time between purchases, so shoppers can keep a pulse on the market.
  • Stay on topic. We want to hear your opinions and thoughts, but please only comment about the specified topic in the blog post.
view posting rules

If you have a TypeKey or TypePad account, please Sign In

Search Results

KickingTires Search Results for

Search Kicking Tires

KickingTires iPhone App
Ask.cars.com