GAITHERSBURG, Md. & WASHINGTON -- The last week of 2015 began with a national retail average gasoline price 82 cents per gallon below the year’s peak of $2.82, hit back in June.
Thirty-two states have an average retail gasoline price under $2 per gallon, according to GasBuddy, Gaithersburg, Md., and this number may grow this week as Florida’s average trends downward. In fact, despite a recent bump in West Texas Intermediate crude prices because of the lifting of the oil-export ban, 38 of 50 states enjoyed a week-over-week drop in gasoline prices.
However, California and states in the Great Lakes region are keeping the national average from dropping too much further.
“As the refining issues impacting California aren’t expected to be resolved this week, California may continue to inflate the national gas price average into the new year,” said Will Speer, a Houston-based senior petroleum analyst with GasBuddy, in a recent blog post.
According to AAA, Washington, D.C., average retail gasoline prices hit their lowest point for the Christmas holiday since 2009. The national average for the start of the last week of 2015—$1.999—is the lowest price for this date in six years. The national average is 5 cents per gallone (CPG) lower month-over-month, and 30 CPG lower vs. this same date in 2014.
Missouri had the lowest state average in the country at $1.70 per gallon, followed by Kansas at $1.75. California, suffering from ongoing refinery maintenance problems, had the highest average at $2.83 per gallon, followed by Hawaii ($2.69), according to AAA. California’s average is now above its year-ago figure for the first time in 2015.
Other Western states—Nevada ($2.51), Washington ($2.46) and Alaska ($2.42)—filled out the top five highest-priced retail gasoline markets.
AAA expects the national retail average to continue to fall into 2016 because of the current outpacing of supply to demand and seasonal price declines.
Click here to view the latest gasoline prices across the country.
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