If you’re planning on embarking on a roadtrip in celebration of our country’s independence this long weekend, things just a got a little better for you.
Gas prices — which generally rise along with summer’s temperatures thanks to increased travel — have been steadily falling during the past few weeks. The current national average for a gallon of regular gasoline is sitting at $3.48. Not only does that put it below the mental benchmark of $3.50, but it’s also the lowest price since January. A gallon would have cost you north of $3.60 per gallon just a month ago and, in the past week alone, prices have slid a whopping 8 cents per gallon.
The reason for the slide? Increased refinery output in the Midwest. The region has been rewarded with the largest average drop as a result, according to Bloomberg. Prices in the refinery-heavy Gulf Coast still remain the cheapest overall, though, while hard-to-reach states Alaska and Hawaii remain the most expensive.
Of course, take screaming headlines about cheap fuel prices with a grain of salt. A gallon of gas will still cost you around 15 cents more than at the same time a year ago.
Below is a state-by-state roster of average gas prices from AAA’s Daily Fuel Gauge Report, listed from most to least expensive:
|Washington||$3.788||West Virginia||$3.523||New Jersey||$3.360|
|New York||$3.718||New Hampshire||$3.456||Oklahoma||$3.295|
|Rhode Island||$3.587||New Mexico||$3.393||South Carolina||$3.171|