October is finally falling into cheaper gas prices

(October 24, 2018) The national gas price average is $2.85 — six-cents cheaper than this month’s highest price of $2.91, which was the most expensive average during the month of October since 2014. Today’s price is also four cents cheaper than last week, the same price as last month and 39- cent more than this time last year according to statistics from AAA.

Reduced refinery runs, due to peak maintenance season, have contributed to stable gasoline inventories amid lower demand, which is a contributing factor driving gas prices down.

“Motorists across the country are seeing gas prices more than a dime cheaper than last week, with 41 states having less expensive state averages on the week,” said Jeanette Casselano, AAA spokesperson. “Prices are falling despite market concerns about global supply and geopolitical tensions, but that could change later this month ahead of the U.S. announcement of imposed sanctions on Iran.”

Quick Stats

    The nation’s top 10 least expensive markets are: Delaware ($2.56), Ohio ($2.57), South Carolina ($2.58), Mississippi ($2.58), Missouri ($2.59), Alabama ($2.60), Louisiana ($2.60), Texas ($2.61), Arkansas ($2.61) and Oklahoma ($2.61).

    The nation’s top 10 largest weekly decreases are: Ohio (-12 cents), Delaware (-10 cents), Michigan (-10 cents), Indiana (-10 cents), Kentucky (-8 cents), Iowa (-7 cents), Maryland (-7 cents), Illinois (-7 cents), Oklahoma (-7 cents) and Missouri (-6 cents).