(September 30, 2015) WASHINGTON — The national average price for regular unleaded gasoline has remained relatively stable over the past week, reaching a price of $2.29 per gallon, following a decline of 37 consecutive days. Although this week's average is up by fractions of a penny compared to one week ago, pump prices have fallen for 26 of the past 30 days for a total monthly savings of 20 cents per gallon, AAA reported in its weekly summary.

Falling averages are often the trend at this time of year due to a decline in driving and the switchover to winter-blend gasoline. Unlike previous years, however, refinery maintenance this fall is expected to be heavier than usual due to refineries operating at higher than normal rates for longer periods over the summer months. 

AAA says that as the refinery maintenance season continues to ramp-up, gas price declines could slow and temporarily change direction. However, the market’s current oversupply is expected to keep prices relatively low, and barring any unexpected price spikes, consumers should continue to experience significant yearly savings at the pump approaching the end of the year.

This decline has been driven by relatively low crude oil prices, declining domestic demand for gasoline following the end of the summer driving season, and the switch to cheaper-to-produce winter-blend gasoline on Sept. 16 in many parts of the country.

Crude oil prices remain under downward pressure due to ample supply and seasonal declines in demand, and drivers continue to experience significant yearly savings in the price of retail gasoline. Pump prices are discounted by an average of $1.05 year-over-year and are at their lowest point for this date since 2004.

Motorists in five states are paying averages below the $2 per gallon benchmark.  Drivers in South Carolina ($1.96) are paying the nation’s lowest averages at the pump, followed by:  Mississippi ($1.96), New Jersey ($1.98), Alabama ($1.98) and Tennessee ($1.99).  Alaska ($3.04) leads the market with highest price in the nation, and is the only state with an average price above $3 per gallon.  Regional neighbors California ($2.99), Nevada ($2.94), Hawaii ($2.90) and Utah ($2.70) are the nation’s top five most expensive markets for gasoline.



Weekly price comparisons reveal a bit of volatility, with state averages moving by double-digit increments at both ends of the spectrum.  Despite this fluctuation, overall savings persist and motorists in the majority of states (30 and Washington, D.C.) are experiencing weekly savings in the price to refuel their vehicles.

Pump prices are discounted by a nickel or more per gallon in a total of 10 states, and the largest weekly savings in the price at the pump are seen in Alaska (-10 cents), Idaho (-8 cents) and Colorado (-8 cents). On the other end of the spectrum, averages have climbed higher in 20 states over this same period. The largest weekly increases in price are seen in the Midwestern states of Indiana (+13 cents), Kentucky (+9 cents) and Michigan (+9 cents).

Consumers nationwide are experiencing monthly savings at the pump, and prices in the majority of states (46 and Washington, D.C.) have fallen by double-digit increments over this same period.  Drivers in a total of 10 states are benefitting from monthly savings of a quarter or more per gallon, with the largest savings at the pump seen in the West Coast states of Alaska (-38 cents), California (-37 cents), Oregon (-35 cents) and Washington (-34 cents).