WASHINGTON -- Gas prices averaged $2.12 per gallon nationwide early this week, according to AAA, a price point that is more than 40% lower than last year's peak of $3.70, which was hit in late April 2014. As of January 13, the national average had fallen a record-breaking 110 consecutive days, with a total price decline of $1.23 per gallon. The motorists' association expects the national average to stay below $3 per gallon for 2015.
During the past week, average gas prices fell below $2 per gallon in 11 additional states, making a total of 18 states below this magic figure, AAA reported. Assuming current trends, this figure could bump up to 25 by the end of next week. The states enjoying the lowest average include Missouri ($1.77), Oklahoma ($1.82) and Kansas ($1.84), said AAA, while Hawaii ($3.42), Alaska ($2.93), New York ($2.62), California ($2.60) and Washington, D.C. ($2.57) have the highest averages.
Montana, Utah, North Dakota and Wyoming saw the biggest week-over-week declines in prices, with averages falling from 14 to 16 cents per gallon (CPG). States with some of the biggest month-over-month declines include most of those Western states, as well as Idaho, which enjoyed a 71 CPG drop. Midwestern states Indiana, Ohio and Michigan also experienced big month-over-month drops, with averages from 48 to 58 CPG lower, AAA reported.
On a year-over-year comparison, Michigan (-$1.45), Ohio (-$1.43), Indiana (-$1.40) and Illinois (-$1.31) saw the biggest declines.
GasBuddy data for January 9 shows the national average at $2.119 per gallon, or 6.5 CPG lower than the previous week. The fuel price data firm reported that five states enjoyed the lowest gas price averages:
- Missouri ($1.767 per gallon).
- Oklahoma ($1.788).
- Kansas ($1.823).
- Texas ($1.888), which also is home to the gas station with the lowest price in the United States at $1.49 per gallon.
- New Mexico ($1.897).
Around 12,000 stations lowered their gas price below $2 per gallon over the past week, according to GasBuddy survey data for January 9, with more than 45% of all gas stations under that price point. Wichita, Kansas, Kansas City, Mo., Tulsa, Okla., and Colorado Springs, Colo., had the lowest city averages.
Average diesel prices are also continuing a downward trend, falling below $3 per gallon for the first time in four years, GasBuddy reported, to hit $2.998. North Dakota, Idaho, Michigan, Oregon, Wisconsin and Washington saw the biggest declines in average diesel prices over the past week. GasBuddy expects the national average to drop to $2.50 to $2.75 per gallon, with a 25 to 35 CGP decrease in most states over the next two to three weeks.
Click here to view the full AAA report, and click here to view the complete GasBuddy blog.
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