Gas Prices Go Down to March’s Level



gas prices go down to march's level

Average gasoline prices in the US have fallen to $3.901 a gallon down from last week’s $3.956, according to the American Automobile Association (AAA). The average gas price has shown a steady decline in over two months offering some relief to drivers after gas prices surpassed $5 per gallon in June.

It has been two weeks since the average gas price fell below $4 a gallon, reaching its lowest level since March this year.



Gas Prices Go Down

Across the national average state gas prices ranged from as high as $6.536 (Mono, California) to as low as $3.131 (Cameron Texas).

West Virginia, Florida, Maine, and new jersey saw their gas prices dropping by over ten cents in just a week. While Oklahoma, Wisconsin, Texas, and Illinois showed a marginal reduction in gas prices from last week.

Lowest Gas Prices

State Regular Mid-Grade Premium Diesel 
Arkansas3.4063.7644.0954.635
Mississippi3.4223.7754.1354.602
Georgia3.4273.8234.1914.675
Texas3.4363.7974.1274.502
Tennessee3.4433.8174.1754.68

As has been a continued trend California continues to see the highest average gas price which currently is at $5.325 a gallon. Counties in California such as Inyo, Sierra, Lassen, Modoc, Humboldt, Trinity, and Del Norte have gas prices sitting beyond the $5.60 mark. Like California, Hawaii, Nevada, Alaska, and Oregon have the highest gas prices surpassing the $4.60 mark.  These states still see high gas prices despite prices showing dips ranging from two to four cents from last week.



Highest Gas Prices

State Regular Mid-Grade Premium Diesel 
California5.3245.5225.6726.224
Hawaii5.3165.5485.7776.089
Nevada4.9155.1595.3625.146
Alaska4.8675.0485.2595.327
Oregon4.8295.0215.2255.657

While Texas, Arkansas, Tennessee, and Oklahoma are the states enjoying cheap gas prices with average gas prices at or below $3.50

Could Gas prices continue to Slide?

The national average cost of a gallon of regular gasoline now stands at $3.90. Though still higher than $3.16 from a year ago it is however below a peak of nearly $5.06 in mid-June.

The continued decline in gas prices comes as a relief to motorists. Late May and early June saw record spikes in gas prices prompting projections of a never-ending rise in fuel prices. The decline comes as the federal government released additional gas into the market, global fuel demand declined due to high prices and a strong U.S. dollar making oil more expensive elsewhere.



Gas Price Trends

 RegularMid-GradePremiumDieselE85
Current Avg.3.9014.3314.6394.9773.19
Yesterday Avg.3.9044.3424.6494.9823.194
Week Ago Avg.3.9564.3924.6965.0333.218
Month Ago Avg.4.4134.8675.165.4553.739
Year Ago Avg.3.1633.5193.7943.2832.642

As things stand gas prices are stabilizing and will probably continue to go down provided that there are no interruptions in the supply of gas. Currently, the nation is seeing gasoline inventories growing to allow for some cushion from rising gas prices.

On the consumer side, declining gas is offering households much-needed breathing room but many have yet to go on the road. “Falling pump prices may eventually lead to more drivers hitting the road again. But that hasn’t happened yet. Instead, many drivers are waiting for prices to fall further before reverting to their typical driving habits/”, said Andrew Gross, AAA spokesperson.

State Gas Prices August 22, 2022



State Regular Mid-Grade Premium Diesel  
Alaska4.8675.0485.2595.327
Alabama3.4713.8554.2354.705
Arkansas3.4063.7644.0954.635
Arizona4.0414.334.6044.942
California5.3245.5225.6726.224
Colorado3.8984.2514.5544.81
Connecticut4.0194.5564.9215.137
District of Columbia4.1044.6265.0515.176
Delaware3.84.3144.584.793
Florida3.5283.9374.2614.715
Georgia3.4273.8234.1914.675
Hawaii5.3165.5485.7776.089
Iowa3.5453.8154.2634.68
Idaho4.6474.8815.0975.163
Illinois4.2544.7425.1235.099
Indiana3.9064.3194.6625.192
Kansas3.4813.7554.0554.589
Kentucky3.53.8974.2374.846
Louisiana3.4573.8284.1774.605
Massachusetts4.1694.6964.9895.225
Maryland3.8864.4014.6724.871
Maine4.1624.5524.8845.191
Michigan3.9014.2874.6585.239
Minnesota3.8294.194.5384.942
Missouri3.4673.8034.1014.586
Mississippi3.4223.7754.1354.602
Montana4.2014.5044.7714.802
North Carolina3.5933.9714.3214.886
North Dakota3.8874.2164.6114.786
Nebraska3.6713.8794.3254.699
New Hampshire4.0374.5124.8545.156
New Jersey4.0644.6164.8755.011
New Mexico3.6553.9324.2234.746
Nevada4.9155.1595.3625.146
New York4.2484.6925.0235.401
Ohio3.654.0334.3835.167
Oklahoma3.5133.8474.1014.552
Oregon4.8295.0215.2255.657
Pennsylvania4.2194.64.8655.334
Rhode Island4.0864.6724.9585.159
South Carolina3.4633.844.1914.669
South Dakota3.8634.0454.5454.786
Tennessee3.4433.8174.1754.68
Texas3.4363.7974.1274.502
Utah4.5334.7494.9514.896
Virginia3.6924.1284.454.897
Vermont4.2174.7135.1285.008
Washington4.7764.9695.1735.567
Wisconsin3.6784.0834.4924.755
West Virginia3.8814.154.4215.112
Wyoming4.0144.2314.5014.918

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Samson Haileyesus Samson Haileyesus is a staff writer for Small Business Trends and has several years of progressive experience in media, communication and PR working with government, NGOs and private sector. He is passionate about public outreach, branding, media relations and marketing.

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