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Average U.S. Gasoline Prices at $2.02 Per Gallon
The average retail price of a gallon of gasoline in the U.S. starts the week at $2.02, its lowest price since 2009, according to the AAA Daily Fuel Gauge Report.
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The average retail price of a gallon of gasoline in the U.S. starts the week at $2.02, its lowest price since 2009, according to the AAA Daily Fuel Gauge Report.
AAA says the national average price was $2.19 a month ago and $2.58 a year ago. State-by-state averages currently range between $1.79 (South Carolina) and $2.75 (Hawaii) per gallon. Some analysts predict the nationwide average will dip below $1.80 next spring before eventually increasing later in the year.
The continuing slide coincides with declining prices for oil futures. The U.S. benchmark (West Texas Intermediate) closed on Friday at a 7-year low of $35.62 per barrel. The international standard (Brent Crude) ended the week at $37.93, also a 7-year low. Petroleum prices peaked this year above $61 in June and were at $107 in mid-2014.
Traders say the latest drop in oil prices was prompted by the Paris-based International Energy Agency, which predicted late last week the world’s oversupply of crude appears likely to expand even more in 2016.
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