(July 24, 2018) Volatility is the trend for July gas prices as the rate for crude oil rises and drops amid lingering geopolitical concerns. In the U.S., the first half of the month saw pump prices increase from $2.85 to $2.89, while the second half is proving cheaper with the national gas price average down to $2.84 today. The national average has not been this low since early May, according to the weekly report by AAA.

“July gas prices have been on a roller coaster ride, but appear to be on a downward slope at the moment. If demand and supply stay consistent, prices have the potential to stabilize barring any major events — geopolitical or natural disasters,” said Jeanette Casselano, AAA spokesperson.

“The market is also following this up and down trend lately. Last week, crude prices dropped below $70/barrel for the first time since June, but then returned above the price point to close out the week.”

On the week, Hawaii (+1 cent) was the only state to see gas prices increase, Montana ($2.93) was the only state whose gas price average held steady, while all other states saw prices drop as much as 13 cents.

Today’s national gas price average is four cents cheaper than last week, two cents cheaper than last month, but 57-cents more expensive than a year ago. Motorists can find gas for $2.76 or more at 52 percent of stations across the country.

Quick Stats

    The nation’s top 10 least expensive markets are: Alabama ($2.54), South Carolina ($2.54), Mississippi ($2.54), Arkansas ($2.58), Louisiana ($2.58), Oklahoma ($2.60), Virginia ($2.61), Tennessee ($2.61), Texas ($2.61) and Missouri ($2.61).

    The nation’s top 10 largest monthly changes are: New Mexico (-13 cents), Arizona (-12 cents), Nevada (-8 cents), Delaware (+8 cents), Utah (-8 cents), Nebraska (-7 cents), Ohio (+7 cents), Texas (-6 cents), Idaho (-6 cents) and California (-5 cents).