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Posted at 01:04 PM ET, 09/24/2013

Gas Prices Down, Continue to Fall


Gas has been getting cheaper for three straight weeks and prices are expected to continue falling in months to come. AAA this week reported that the national average price of regular unleaded gas has fallen for 22 consecutive days — the longest sustained price plummet this year — to $3.47 per gallon. That's 5 cents less than a week ago, 7 cents less than a month ago and 35 cents less than the same day in 2012.

Motorists have seen some relief after paying 2013's greatest year-over-year price increase of 26 cents per gallon on July 18; just two months later they were paying 36 cents less per gallon than in 2012. Drivers in every state and the District of Columbia are paying less than they were a year ago, with Alaska getting the stingiest discount of 7 cents, while Arkansas, New Jersey, Wisconsin, North Carolina, Missouri, South Carolina, Virginia, Illinois and Minnesota enjoy comparably generous discounts of 40 cents or more.

Refinery issues in California have caused prices to begin to creep up during the past two weeks in that state, Nevada and Washington. Eleven other states have seen prices plunge by at least a dime, while Missouri and Minnesota have seen decreases of at least 20 cents.

"Barring a hurricane or other unexpected disruption to gasoline production and distribution, 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 stated.


By  |  01:04 PM ET, 09/24/2013

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