comscore Gas prices still falling as crude oil costs nosedive, survey says | Honolulu Star-Advertiser
Top News

Gas prices still falling as crude oil costs nosedive, survey says

  • ASSOCIATED PRESS / MAY 8

    In this file photo, gas station attendant Carlos Macar pumps gas in Andover, Mass.

CAMARILLO, Calif. » The price of gasoline nationwide keeps dropping.

Industry analyst Trilby Lundberg said today that the average price of regular gas fell 4 cents in the past two weeks, to $2.06 per gallon. That’s the lowest price since April 2009.

But the price-tracking website GasBuddy.com says the average has dropped to $1.99 per gallon, the first time it’s been below $2 since March of 2009.

Prices have dropped because supplies are strong and demand hasn’t been huge. GasBuddy predicts that many areas will see low prices for much of the winter, although refinery issues in the West could drive prices up.

Gas has fallen below $2 in 30 states, and more than two thirds of U.S. gas stations are selling at $1.99 per gallon or less, according to GasBuddy. The website says the national average could bottom out at $1.85 before rising in the spring as demand rises and refineries shift to federally required summer gasoline blends.

Lundberg says the average cost of midgrade is $2.35 per gallon, while Premium averages $2.55.

In California, where prices are highest, she says a gallon of regular averages $2.61, with midgrade costing $2.74 and premium at $2.83.

In the Lower 48 states, the highest average price of regular gasoline is in Los Angeles, at $2.71, while Tulsa, Oklahoma has the lowest, at $1.72, according to Lundberg.

Comments (4)

By participating in online discussions you acknowledge that you have agreed to the Terms of Service. An insightful discussion of ideas and viewpoints is encouraged, but comments must be civil and in good taste, with no personal attacks. If your comments are inappropriate, you may be banned from posting. Report comments if you believe they do not follow our guidelines.

Having trouble with comments? Learn more here.

Leave a Reply

Click here to see our full coverage of the coronavirus outbreak. Submit your coronavirus news tip.

Be the first to know
Get web push notifications from Star-Advertiser when the next breaking story happens — it's FREE! You just need a supported web browser.
Subscribe for this feature

Scroll Up