Arizona Gas Prices Fall a Couple of Cents

Patrick DeHaan, the senior petroleum analyst at GasBuddy, expects that within the next 24 hours the national average to drop to a new six year low.

On Monday, the price of regular gas averaged $2.05 per gallon in Florida, down 65 cents from a year ago.

According to AAA, Hawaii has the most expensive gas in the country with an average of $2.79.

“A global oversupply of oil has kept a stranglehold on crude prices”. The price of benchmark West Texas Intermediate crude oil has remained below $50 per barrel since July, AAA said.

Half the nation’s fifty states now boast gasoline prices that average under $2/gallon, with almost two-thirds of the nation’s 130,000 gas stations charging less than that already.

This morning, it sits 68 cents a gallon lower than one year ago.

Prices are below $2 at a number of locations around town and residents are glad to hear about the lower prices.

“OPEC is going to wait for production to resume from Iran before looking at oil production quotas again next year”, DeHaan said. Oil prices fell again last week, allowing gas prices to creep downward.

In Augusta, the average price as of December 7 is $1.94, up from $1.87 the previous week. These were massive declines largely due to the price of oil falling $17 during that same period. Through the GasBuddy.com website and the free GasBuddy mobile app, users can find and share gas prices with fellow drivers, saving big money at the pump. The national average was about $2.68 at the same time a year ago.