Gas Prices Are Falling Before the Fourth of July: A State-By-State Look

by Alyssa Oursler | July 2, 2013 11:50 am

Gas Prices Are Falling Before the Fourth of July: A State-By-State Look

JulyGasMap Gas Prices Are Falling Before the Fourth of July: A State By State LookIf 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[1]. 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:

State Price State Price State Price
Hawaii $4.323 Vermont $3.560 Kansas $3.391
Alaska $4.041 South Dakota $3.553 Indiana $3.388
California $3.994 Maine $3.534 Minnesota $3.366
Washington $3.788 West Virginia $3.523 New Jersey $3.360
Idaho $3.771 Massachusetts $3.513 Georgia $3.352
Connecticut $3.768 Arizona $3.473 Kentucky $3.348
Oregon $3.763 Pennsylvania $3.470 Virginia $3.347
Illinois $3.738 Maryland $3.462 Texas $3.344
Utah $3.737 Wisconsin $3.460 Louisiana $3.295
New York $3.718 New Hampshire $3.456 Oklahoma $3.295
D.C. $3.709 Nebraska $3.449 Arkansas $3.291
Nevada $3.682 Iowa $3.448 Ohio $3.277
Montana $3.611 Florida $3.440 Missouri $3.269
North Dakota $3.308 Delaware $3.439 Tennessee $3.264
Colorado $3.605 Michigan $3.436 Mississippi $3.261
Wyoming $3.601 North Carolina $3.396 Alabama $3.232
Rhode Island $3.587 New Mexico $3.393 South Carolina $3.171
Endnotes:
  1. according to Bloomberg: http://www.bloomberg.com/news/2013-07-01/gasoline-at-u-s-pumps-drops-to-lowest-in-five-months-eia-says.html

Source URL: http://investorplace.com/2013/07/gas-prices-are-falling-before-the-fourth-of-july-a-state-by-state-look/
Short URL: http://invstplc.com/1nvq3eb