Gas prices fall for third straight week

(May 16, 2017) Today’s gasoline national average is $2.34 a gallon, a penny cheaper than one week ago, seven cents less than a month ago, but 12 cents more than a year ago. The latest Energy Information Association report shows that gasoline demand increased by 252,000 barrels on the week, AAA reports in its weekly summary.
Despite the jump in demand, the continued oversupply of gasoline caused prices in most parts of the country to drop or remain steady with the exception of some states in the Great Lakes and Central regions, where prices increased by a penny or more.

In coming weeks, the onset of summer travel is likely to increase demand which might help dip into high gasoline stocks; however, it may not be enough demand to increase prices significantly.

Quick Stats

    • The nation’s top 10 markets with the most expensive gas: Hawaii ($3.06), California ($2.98), Alaska ($2.90), Washington ($2.88), Oregon ($2.73) and Nevada ($2.68), Pennsylvania ($2.57), Idaho ($2.54), Washington, D.C. ($2.51) and New York ($2.50).
    • The nation’s top 10 markets with the biggest changes in the last week include: Indiana (+9 cents), Ohio (+7 cents), Michigan (+7 cents), Delaware (-5 cents), Kentucky (+5 cents), Florida (-5 cents), South Carolina (-4 cents), Alabama (-4 cents), North Carolina (-4 cents) and Pennsylvania (-4 cents).