The national average has declined for over a month straight- a streak many motorists likely doubted when we first posted about this likelihood several weeks ago. This morning, the U.S. average stands at $3.509/gal, and will likely drop under $3.50/gal in the next 48 hours.
The most common price found across the nation today according to GasBuddy.com data is $3.399/gal, down from $3.499/gal a week ago, and down from $3.599/gal a month ago.
Today, just 3.8% of stations nationally stand over $4/gal, down from 4.1% yesterday, and down from 5.5% last week. Just a month ago, 8.8% of gas stations in the U.S. were over $4/gal.
Perhaps most significant to consumers: 99.9% stations are over $3/gal today, meaning more and more stations are dropping under $3/gal. Last year, 100% of stations were over $3/gal- even yesterday, a week ago, and a month ago all stations were over $3/gal. I expect that the percentage of stations over $3/gal will drop slightly as more stations around the country go under $3/gal. These stations will generally be isolated to the South and East- like Tennessee, Alabama, Mississippi, Texas, Oklahoma, South Carolina, etc.
The cheapest states for gasoline today:
South Carolina, at $3.246/gal, Oklahoma at $3.257/gal, Missouri at $3.259/gal, Alabama at $3.262/gal, and Mississippi at $3.30/gal.
The most expensive gas today?
Hawaii at $4.336/gal, Alaska at $4.114/gal, California at $3.981/gal, Oregon at $3.92/gal, and Washington at $3.919/gal.
Prices will generally be dropping for most of the country this week, but I can't rule out a price hike in the Great Lakes, which generally see price hikes every 1-1.5 weeks based on the price cycling behavior in those markets.