(June 27, 2017) Despite a surge in gasoline demand over the last week, the national average price for gasoline is nearing an all-time low for the year at $2.26 a gallon. February was the last time the price of a gallon of regular unleaded gasoline was this low nationally, according to AAA.

On the week, gas prices fell in all but three states (Indiana, Ohio and Michigan) while all regions, except the Southeast, saw gasoline inventories drop. This is good news for people planning to travel for the Independence Day holiday.

AAA forecasts 37.5 million American will drive to their holiday destination, which potentially can mean a small increase in holiday weekend gas prices. Today, consumers can find gas for $2.24 or less at 60 percent of gas stations in the country.

The price of gas has fallen for 24 consecutive days. Today’s national average is three cents cheaper than a week ago and 11 cents cheaper than a month ago. Heading into Independence Day weekend, gasoline is four cents less than a year ago. Record refinery rates, high gasoline and crude inventory, and less-than-favorable demand this year are among the contributing factors causing the downward price trend.

Quick Stats

    The nation’s top 10 markets with the largest yearly changes: Hawaii (+26 cents), Illinois (-22 cents), New Jersey (+19 cents), Ohio (-18 cents), Utah (+18 cents), Alaska (+17 cents), Wisconsin (-16 cents), Washington (+16 cents), Oklahoma (-15 cents) and Oregon (+14 cents).

    The nation’s top 10 markets with the cheapest gas this week include: South Carolina ($1.93), Oklahoma ($1.95), Alabama ($1.99), Mississippi ($2.00), Missouri ($2.01), Tennessee ($2.02), Arkansas ($2.02), Virginia ($2.03), Texas ($2.06) and Kansas ($2.07).