Gas prices decline moderately during last seven days

(July 18, 2017) At $2.25, the national gas price average is one cent cheaper than a week ago, five cents less than a month ago and four cents more than a year ago, according to weekly statistics by AAA.  Nationwide, last week did not see record demand, but was close to all-time high levels and continues to keep pace with summer 2016 levels. 

According to the Energy Information Administration (EIA), gasoline stocks dropped 1.6 million barrels on the week. That figure brings national levels to 235.7 million barrels, which is approximately 4 million barrels below this time last year.

 “As we hit the middle of the summer season, consumers can still fill up for $2.25/gallon or less at 62% of gas stations in the country,” said Jeanette Casselano, AAA spokesperson. “If, however, demand keeps pace and stocks continue to draw down at sizable levels, gas prices are likely to increase this month into next. So now is a good time to take a road trip.”

On the week, only nine states saw gas prices increase: Missouri (+5 cents), Georgia (+4 cents), South Carolina (+2 cents), Tennessee (+2 cent), Louisiana (+1 cent), Maine (+1 cent), Washington, D.C. (+1 cent), Alabama (+1 cent) and Mississippi (+1 cent).

 Quick Stats

    • The nation’s top 10 markets with the largest weekly changes are: Indiana (-10 cents), Ohio (-9 cents), Michigan (-8 cents), Missouri (+5 cents), Kentucky (-5 cents), Georgia (+4 cents), Illinois (-3 cents), Utah (-3 cents), Wyoming (-2 cents) and Delaware (-2 cents).

    • The nation’s top 10 markets with the largest monthly changes are: Florida (-15 cents), Wyoming (-12 cents), California (-10 cents), Utah (-10 cents), Alaska (-10 cents), South Dakota (-10 cents), Colorado (-9 cents), Indiana (+9 cents), Idaho (-8 cents) and Texas (-8 cents).