U.S. and global markets are working to evaluate the impact of the federal government shutdown and renewed U.S. debt ceiling concerns, while retail gas prices continue to march steadily lower. Today’s average price for regular unleaded gasoline is $3.35 per gallon. This price is four cents less expensive than one week ago, 22 cents less than one month ago and 47 cents less than the same day last year.
With national prices on a downward trend, drivers across the country are sharing in the welcome relief at the pump. Drivers in the Midwestern and central states are experiencing month-over-month relief. While many Midwestern drivers are filling up their cars at almost a 50-cent discount to the same day in 2012, the largest yearly disparity is in Calif. where drivers now pay an average price that is more than 80 cents less than one year ago.
AAA expects that retail prices will continue lower in the coming months, as sufficient supplies, flat demand and cheaper winter-blend gasoline mean motorists are likely to pay less to fill their tanks. Barring a hurricane or other unexpected disruption to gasoline production and distribution, the national average could fall to $3.10-20 per gallon by Christmas, which would be the lowest mark since February 2011.
Despite falling retail gas prices and recent political and economic uncertainty, the price of West Texas Intermediate (WTI) crude oil has remained above $100 per barrel for more than three months. Even with a slight decline in Monday’s trading, this streak continued as WTI settled 81 cents lower at $103.03 per barrel at the close of yesterday’s formal trading on the NYMEX.
This week’s South Central Ohio average price:
Average price during the week of October 1, 2013:
Average price during the week of October 9, 2012:
The following is a list of the average price of unleaded self-serve gasoline in various areas:
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AAA East Central is a not-for-profit association with 82 local offices in Pennsylvania, West Virginia, Ohio, New York and Kentucky servicing 2.7 million members.