Posted on 08/25/2015 5:10:32 AM PDT by thackney
Gasoline prices hit an 11-year seasonal low Monday, and gas will continue to drop along with the falling price of U.S. oil that is now just more than $38 per barrel, according to AAA.
Monday’s national average price of gasoline is $2.59 per gallon, which is the lowest average for late August since 2004, AAA stated, despite record-high demand and ongoing refinery problems. The Houston area averaged a lower $2.33 a gallon, according to GasBuddy’s daily survey of 2,559 gas outlets in Houston.
AAA is projecting gas prices will drop below $2 a gallon nationwide on average by late December unless something unexpected occurs. Gas prices typically fall from September through December because of the decrease in demand and the switch to winter-blend gasoline. Plummeting oil prices also are contributing to the ongoing dip.
Average gas prices would already be at or below $2 a gallon if not for maintenance problems at some major U.S. refineries, as well as greater-than-average gas demand this summer, AAA added. The last time U.S. oil was below $40 a barrel was in February 2009 and gas prices averaged $1.90 a gallon then.
Texas and 11 other states already have at least one gas station selling gasoline for less than $2 a gallon. South Carolina has the lowest average of $2.11 per gallon, according to AAA. The national average was last under $2 per gallon from Nov. 21, 2008 to March 25, 2009.
In Houston, average gasoline prices fell 4.4 cents a gallon last week, averaging $2.33 a gallon Sunday. This compares with the national average that fell 7.1 cents per gallon, GasBuddy said. Houston prices were 92.4 cents per gallon lower than the same time last year and 17.4 cents a gallon lower than a month ago. The national average decreased 12.8 cents per gallon during the last month and 82.8 cents per gallon lower than last year.
“The Midwest saw gasoline prices plunge after it was reported that BP was looking to bring its Whiting refinery (in Indiana) online in the days ahead,”said Patrick DeHaan, GasBuddy senior petroleum analyst, in a prepared statement. “Should this eventually be confirmed, prices could fall through at least Labor Day in the Midwest.
“On the flip side, motorists in the Northeast should now be on alert after a major fire struck a PBF refinery in Delaware City on Friday,” Dehaan added. “The market hasn’t really had a chance to react, but it could turn ugly at the pump in the days ahead for motorists in that region. Elsewhere, the West Coast saw prices decline, along with the Gulf Coast, East Coast and Rockies- virtually everyone saw gasoline prices fall in the last week.”
Here in SW Pennsylvania I paid 2.69 a gallon yesterday.
Much of the Widwest larger area is affected by the BP refinery shutdown.
Not in the Democrats Republic of Kalifornia. $3.40 a gallon is about as good as it gets with the Politburo about to raise the gas tax another 12 cents per gallon.
Central SC: On Sunday I paid $1.99 for gas at a Shell station.
Brand X gas can be found for $1.94/gallon
Central Texas still 2.45. Hasn’t dropped in several days.
Local Chevron station was at $2.14/gal yesterday; Midland, TX.
Undeaded here in FL is hitting $2.14/gln and trending down.
Does anyone know the best link to retail fuel prices around the nation? There are several out there, I’m certain...
Did I say “undeaded”?
Yeesh...
I use gasbuddy.com for current and eia.gov for historical.
Good info at AAA as well.
http://www.fuelgaugereport.com/
Excellent, thank you again!
Regular is $2.46 at Costco in Salt Lake County. That’s a buck down from one year ago.
Not in Ohio. We have a fake shortage going on.
NYS did it wrong. They taxed on the dollar. When prices were high....they were raking it in. I see a surtax in our future.
Breakdown at BP Refinery Strains Midwest Gas Prices
http://www.nytimes.com/2015/08/14/business/breakdown-at-bp-refinery-strains-midwest-gas-prices.html?_r=0
BP refinery outage drives up gas prices
http://www.statejournal.com/story/29851340/bp-refinery-outage-drives-up-gas-prices
The Ashland Refinery near Ashland, KY is less than 2 hours from me. Less than half an hour from us on the KY side of the Ohio, the gas has consistently been 30 cents per gallon cheaper. Interesting, since Ashland delivers the fuel to our gas pumps.
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