At $2.276 per gallon for regular gasoline at the pump, the state average is now more than 7 cents less than the previous 2018 low of $2.35 per gallon established in January. The news was even better in
“Compared to when pump prices peaked in May, Americans are now saving an average of $5-$10 every time they go to the pump,”
The lowest prices among metro areas in
The state average price has declined the past 51 consecutive days for a total of 52 cents. During the past week, prices dropped an average of 10 cents.
“Motorists finally have something to be excited about: gas prices plummeting, with at least one gas station in 27 states offering a gallon of gasoline at $1.99 per gallon or less,”
Oil and gasoline dynamics:
— Domestic crude oil production remains at a record-high 11.7 million barrels per day; 21 percent more than last year;
— Domestic oil supply increased for the 10th consecutive week;
— Supply levels are the highest since this time last year;
— Gasoline production remains strong;
— Gasoline supplies are nearly 5 percent stronger than a year ago;
— Gasoline demand is steady.
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