US Gas Prices Down 13 Cents in One Month

Gas prices have continued to decline in recent weeks. The average retail price for a gallon of unleaded regular gas in the US is currently $3.56, down 3 cents from one week ago, and down 13 cents from one month ago. This is the third week in a row that gas prices have declined, following five weeks of increases.

A gallon of diesel gas is currently averaging $3.87 per gallon, down 2 cents from one week ago and down 8 cents from one month ago.

Oil prices, which account for about 65 percent of the cost of making gasoline, closed Monday at about $84 a barrel.

Often the price of crude oil and gasoline fall and rise together. But gasoline usually lags behind crude as prices fall. The price of U.S.-produced crude oil has dropped 30 percent since May. But gas prices have only decreased about 11 percent.

Positive news came out of Libya on Monday. The rebels stormed Tripoli and it appears that they are gaining control. While there is still uncertainty in Libya, many people are speculating that if Qaddafi’s regime goes down, eventually gas prices will do down, too.

A gallon of regular gas in Hawaii will still cost you $4.09 a gallon. Hawaii is the only state in the US where gas prices are averaging over $4 per gallon.

The following states have the highest gas prices in the US:

Alaska – $3.88

Connecticut – $3.91

New York – $3.86

California – $3.72

District of Columbia – $3.79

Illinois – $3.75

Montana – $3.71

Oregon – $3.71

Rhode Island – $3.75

Washington  – $3.75

If you or your business has been affected by this year’s high gas prices, you may want to consider investing in a GPS fleet tracking system. Fleet GPS  is a feature-rich navigation system that is uniquely positioned to help improve the efficiency of our cars in ways that reduce fuel consumption and improve sustainability for all. A GPS fleet tracking system can help you save time, money and and reduce fuel costs.

Categories: Fleet Management News, Vehicle Tracking Systems