Gas Prices Continue Dropping



gas prices continue droping

The national average gas price across the US continues its dip on Monday, September 12, 2022, reaching $3.716. This is a drop of more than 6 cents in just one week, according to the American Automobile Association (AAA). This week’s trends follow more than two months of gradual decline in gas prices after reaching a record high of $5.016 in June.



Gas Prices Drop for Over two Months

The average gallon of gas price is currently 6 cents less than one week ago and 21cents lower than one month ago, but still 66 cents shy of the $ 3.175 price tag a year ago. Across the nation, gas prices fluctuated from as high as $5.405 to a low of $ 3. 144. Over the past week, gas prices have seen prices go down from 17 cents to 2 cents across the nation.

California continues to experience the highest gas prices in the nation with the average gallon of gas price going for $5.405 a gallon at the pump, up by  2 cents from last week. It remains the state with the most expensive gas price eclipsing the national average by $1.68. Some counties in California continue to see steep gas prices above the $ 5.60 mark while Mono county has the most expensive gas price with a whopping $ 6.429 for a gallon of gas.

Highest Gas Prices

State RegularMid-GradePremiumDiesel 
California5.4055.5845.7386.314
Hawaii5.2845.5275.7336.113
Nevada4.9045.1335.3365.224
Alaska4.7054.8955.085.204
Oregon4.6844.8715.0715.557

Similarly, 21 other states continue to see gas prices above the current national average of $3.716 a gallon. Hawaii, Alaska, Nevada, Oregon, and Washington continue to see average gas prices above the $4.60 mark. Despite gas prices going down in most states Hawaii, California, and Nevada have seen their gas prices go up by between 6 to 10 cents in just over a week.

The states with the cheapest gas prices across the nation include Arkansas, Texas, and Mississippi with a gallon of gas price falling below last year’s national average of $ 3.175. The average gallon of gas in Arkansas is $3.161 while Mississippi and Texas go for 3.158 and 3.144 respectively.



Lowest Gas Prices 

State RegularMid-GradePremiumDiesel 
Texas3.1443.5153.8454.593
Mississippi3.1583.5123.8754.61
Arkansas3.1613.513.8394.707
Louisiana3.1983.5623.9124.615
Georgia3.2423.6343.9964.686

In terms of price decline Maryland, Delaware, and Connecticut have seen their gas prices go down by more than 15 cents points.

Could We See Gas Going Down Further?

Gas prices continue to see drops for most states except for some particularly Hawaii, Californian, Alaska, and Nevada which continue to see gas prices above the national average. According to new data from the Energy Information Administration (EIA), gas demand last week increased slightly from 8.59 million barrels a day to 8.73 million barrels a day with domestic gas stocks rising by 300,000 barrels to reach 214.8 million barrels.

Gas Price Trends



 RegularMid-GradePremiumDieselE85
Current Avg.3.7164.1594.4685.0113.037
Yesterday Avg.3.7184.1664.4745.0133.046
Week Ago Avg.3.7864.2184.5285.0683.102
Month Ago Avg.3.9784.4264.7215.063.253
Year Ago Avg.3.1753.5313.8063.2952.656

Although gasoline demand has increased slightly, lower oil prices have led to falling pump prices. If gasoline demand begins to subside, as it typically does post-Labor Day, pump prices will likely continue to decrease.

 

State Gas Prices September 12, 2022

State RegularMid-GradePremiumDiesel 
Alaska4.7054.8955.085.204
Alabama3.2943.6774.0594.757
Arkansas3.1613.513.8394.707
Arizona3.9894.2714.5484.97
California5.4055.5845.7386.314
Colorado3.6694.0164.314.749
Connecticut3.5924.1644.5455.12
District of Columbia3.844.4324.8245.077
Delaware3.4213.9324.2194.693
Florida3.4393.8464.1534.762
Georgia3.2423.6343.9964.686
Hawaii5.2845.5275.7336.113
Iowa3.3813.6734.1094.866
Idaho4.4694.6914.9265.066
Illinois4.0124.494.8815.231
Indiana3.7984.2314.5965.356
Kansas3.3643.6443.954.794
Kentucky3.3473.7434.0864.896
Louisiana3.1983.5623.9124.615
Massachusetts3.8034.3724.6625.083
Maryland3.514.0394.3124.792
Maine3.774.1964.5245.119
Michigan3.8444.2394.6455.389
Minnesota3.6544.0064.3574.998
Missouri3.3043.6283.9234.773
Mississippi3.1583.5123.8754.61
Montana3.954.2264.5084.915
North Carolina3.4123.7914.144.795
North Dakota3.6463.9794.3644.871
Nebraska3.4953.7024.174.85
New Hampshire3.7074.2494.585.003
New Jersey3.7044.2874.544.939
New Mexico3.5693.8974.1784.823
Nevada4.9045.1335.3365.224
New York3.8894.3564.7025.207
Ohio3.5273.9294.2995.168
Oklahoma3.283.6033.8234.671
Oregon4.6844.8715.0715.557
Pennsylvania3.9224.3044.5645.149
Rhode Island3.6924.2824.6114.971
South Carolina3.3153.6964.0374.786
South Dakota3.6763.8844.3414.843
Tennessee3.2633.6313.9974.717
Texas3.1443.5153.8454.593
Utah4.3144.5334.7344.867
Virginia3.4783.9044.2324.799
Vermont3.8864.4614.8495.015
Washington4.6524.8775.0765.538
Wisconsin3.4653.8924.3034.949
West Virginia3.6513.9214.1644.902
Wyoming3.8124.0124.2744.883

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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.

One Reaction
  1. Now that we’re past the summer travel season (post Labor Day) I would anticipate the trend to continue because people will be driving less.

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