Believe it or not, today there are 35 states where consumers can find stations selling gas below $3 per gal., and more than 14% of the gas stations in the U.S. are now priced below $3 per gallon. Last year on this date, only 1% of the nation’s gas stations and convenience stores were below $3.
“It’s been a favorable confluence of global and domestic factors that have brought us to this point and all of them suggest incrementally lower prices at the pump in the weeks ahead,” said Patrick DeHaan, senior petroleum analyst with GasBuddy.com.
10 states with the greatest decreases week-to-week (Nov. 1 to Nov. 8):
Montana, down 18 cents to $3.08
Ohio, down 17 cents to $3.13
Indiana, down 15 cents to $3.15
Michigan, down 15 cents to $3.20
S. Dakota, down 14 cents to $3.10
Kentucky, down 11 cents to $3.18
Minnesota, down 9 cents to $2.09
Illinois, down 9 cents to $3.26
Nebraska, down 9 cents to $3.01
Utah, down 8 cents to $3.23
Toledo OH is the metro market with the single greatest decrease from the previous week (-.25) followed by Billings, MT (-.23); Indianapolis (-.23); Columbus, OH (-.23); Dayton, OH (-.22); Fort Wayne, IN (-.22); Cincinnati, OH (-.20); Lexington, KY (-.20); Grand Rapids, MI (-.20) and Kalamazoo, MI (-.19).
“Barring unforeseeable events, we estimate that the national average price of gas could fall to a range from $3.10 to $3.15 by Thanksgiving and in the $3.05-3.10 range by Christmas,” noted Gregg Laskoski, another senior petroleum analyst with GasBuddy.com.