Posted in: Gas Prices,
by Patrick DeHaan on Jun 27, 2013 01:15 PM
What goes up must come down- and in some areas of the country that certainly is holding true. Eighteen states have seen prices come down over 10-cents per gallon from their peak price in June compared to today, with one state seeing a whopping decline of 73-cents per gallon.
Prices in Michigan hit an average of $4.25 per gallon on June 5, and just three weeks later, prices have declined 73-cents to an average of $3.52/gallon. Michigan's neighbors are also seeing relief: Indiana is down 66-cents, Ohio down 57-cents, and Wisconsin down 50-cents all in the last three weeks.
Even other states are getting in on the action with Minnesota off 42-cents per gallon since June 1. North Dakota is off 33-cents since the start of the month, with Nebraska down 33-cents, Oklahoma down 32-cents, Kansas down 31-cents, Iowa down 30-cents, South Dakota down 25-cents, Missouri down 23-cents, and Kentucky down 22-cents.
Trailing these states are Colorado, down a respectable 14-cents since June 1, New Mexico down 14-cents since the same date, West Virginia off 13-cents.
If you'll notice, these were all areas that saw refinery production issues cause a spike in prices in either late-May or early-June.
States seeing the smallest decline tend to be in the Northeast: Connecticut is down just 1.5-cents, Massachusetts down 2-cents, New York down 2-cents, New Hampshire down 2-cents, Vermont down 2-cents, Pennsylvania down 3-cents, New Jersey down 3-cents, and Maine down 3-cents.