Wednesday, 17 January, 2018

Gas Prices Lower than Last Month

AZ Gas Prices Drop 3.4 Gas Prices Drop 3.3 Cents In Chattanooga
Jerome Frank | 20 December, 2017, 01:18

Good news for anyone planning to drive this holiday: AAA does not expect the national average to jump before the end of the year.

"However, the strong supply of gasoline should help stave off any gas price hikes that would otherwise be caused by such a surge in demand".

As of Tuesday, Pennsylvania gas prices dropped by two cents to an average of $2.70 per gallon, according to a news report by AAA. "AAA forecasts a record-setting 97.4 million Americans will take a road trip during the final 10 days of the year".

$1.99 per gallon in 2016, $1.75 in 2015, $2.23 in 2014, $3.06 in 2013 and $3.00 in 2012.

Including the change in gas prices in Chattanooga during the past week, prices on Sunday were 9.6 cents per gallon higher than the same day one year ago and are 11.3 cents per gallon lower than a month ago.

There is still a potential for further reductions in price.

"As long as demand for gasoline continues to weaken, gasoline inventories will continue growing and it'll be the gift that keeps on giving", he said.

"We can thank USA oil production, which has come a long way in the last five years", DeHaan said.

Gas prices in Rhode Island have dropped four cents per gallon, just in time for Christmas. The national average has gone up 18.4 cents since a year ago and is also down 11.9 cents since last month.

In Florida, the most expensive average gas price was $2.52 in the West Palm Beach-Boca Raton area.

That's three cents above the national average of $2.43.

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