Pump prices and crude oil continue to push cheaper

(February 4, 2020) The national gas price average is $2.47, which is four cents cheaper than last week and 11 cents cheaper than the beginning of the year. Motorists are paying less to fill up especially as crude oil prices are less expensive, according to weekly statistics compiled by AAA.

“Gas prices are pushing cheaper for two reasons. Crude oil prices are $10 less a barrel than one month ago and U.S. gasoline stocks sit at an all-time record high,” said Jeanette Casselano, AAA spokesperson. “Cheaper crude and healthy stock levels mean motorists can expect prices to continue to decline this month.”

Motorists in at least a dozen states can find gas for less than $2/gallon. Those gas stations are mostly found in the South and Southeast.

Today’s average is 11 cents less than this time last month, but 22 cents more expensive than last year.

Quick Stats

    The nation’s top 10 largest weekly decreases are: Kentucky (-11 cents), Ohio (-9 cents), Illinois (-7 cents), Iowa (-7 cents), Florida (-7 cents), Indiana (-7 cents), Missouri (-7 cents), Washington, D.C. (-6 cents), South Carolina (-6 cents) and Alabama (-6 cents).

    The nation’s top 10 largest monthly decreases are: Kentucky (-20 cents), South Carolina (-19 cents), Ohio (-18 cents), North Carolina (-17 cents), Delaware (-17 cents), Indiana (-17 cents), Tennessee (-16 cents), Louisiana (-16 cents), Texas (-15 cents) and Illinois (-15 cents).