Gas prices stabilizing as average sees largest weekly decline in 3 months

(May 14, 2019) Gas prices are declining slowly but steadily across the country, pushing the national average down three cents on the week to $2.86. Today’s average is four cents cheaper than last month and the same price as one year ago. In fact, 25 states have gas price averages that are just a nickel or less expensive than this time last year, according to statistics compiled AAA.

Gas prices are decreasing despite the Energy Information Administration’s (EIA) latest reports which show an increase in demand to summer-like levels and a decrease in gasoline stocks. The move to cheaper gas prices indicates that demand and supply are potentially leveling out.

“This is the first time in three months gas prices have shown consistent signs of declining,” said Jeanette Casselano, AAA spokesperson.

“However, there are many factors that could quickly push up prices in the coming weeks, including the impact of Chinese tariffs, weather, a major draw in gasoline stock levels, a spike in demand or the volume of Memorial Day weekend travel.  Pump price movements this week will indicate if motorists will continue to see cheaper gas prices or if this was just a one-week fad.”

Quick Stats


    The nation’s top 10 least expensive markets are: Alabama ($2.48), Louisiana ($2.49), Mississippi ($2.49), South Carolina ($2.49), Arkansas ($2.53) Oklahoma ($2.57), Texas ($2.57), Tennessee ($2.57), Missouri ($2.58) and Virginia ($2.61).

    The nation’s top 10 yearly changes are: California (+38 cents), Arizona (+20 cents), Nevada (+20 cents), Ohio (-18 cents), Delaware (-16 cents), Washington (+15 cents), Oregon (+14 cents), Kentucky (-14 cents), Michigan (-12 cents) and Alaska (+11 cents).