Gas prices continuing 'free fall,' AAA says

Share

According to a AAA Northeast survey, self-serve, regular unleaded gas is averaging $2.27 per gallon, which is one cent lower than the national average.

AAA says gas prices are now at the lowest point for this date since 2005.

Increased U.S. oil production pushed gas prices down further over the past week, and consumers are reaping the windfall as the summer driving season kicks into high gear.

California gas prices on Monday's date have fluctuated wildly in the past five years, from $2.90 a gallon last year to as much as $4.11 in 2014.

Yesterday's Kentucky price was 17 cents per gallon lower than one year ago.

Topeka- $2.10/g, down 1.8 cents per gallon from last week's $2.12/g.

More news: Fire at air station injures 2 Marines working on aircraft

AAA defines the Independence Day holiday travel period as June 30 to July 4. US shale oil producers that have ramped up output in recent months, balancing out efforts by OPEC and Russian Federation to limit supply and drive up prices. In Illinois, the average price per gallon is $2.26.

"Lower gas prices will make it more enticing for Americans to take extended or more frequent road trips this summer", AAA spokesman Mark Jenkins said.

Los Angeles- $2.94/g, down 4.3 cents per gallon from last week's $2.99/g.

"Oil prices moved even lower last week, dragging gas prices down with them", he said.

Gas prices across the country are falling.

It may be a distant memory, but in November 2016, as the Thanksgiving holidays approached, a few stations in Palm Beach County were offering gasoline for $1.99, cash price.

Share