Gas Prices Falling in United States

The national average for premium was at $2.50 a gallon on Monday, and diesel was at $2.36.

AAA estimates that cheaper gas prices have saved Americans more than $115 billion on gasoline so far this year.

Regional AAA spokeswoman Elizabeth Carey says in the Rochester area, we’re a little higher than that, but still well below where prices were a year ago.

As of December 21, 22 states have average prices under $2, with the lowest in Missouri and Oklahoma at $1.77, followed by SC at $1.78. Merced continues to have the highest local prices at $2.57 per gallon.

In addition to lower seasonal demand, the stronger dollar, and a weakening global economy, the reduced prices reflect an over-supply of oil and gas.

Despite that increase, Monday’s prices in the Springs were down 14.3 percent or 30.3 cents from the same time previous year, according to GasBuddy’s report.

The price of gas tends to drop in the fall and early winter, as motorists use cheaper winter blends and drive less. This year’s crash in oil prices has brought down the price of gasoline as well.

In CA, where the prices are now the highest, regular gas averages at around $ 2.61 per gallon while midgrade gas costs $ 2.74 and premium costs $ 2.83. The national average price of gas is about 41 cents less than a year ago.

“This is a holiday gift that few consumers could have imagined when gasoline was almost $4 a gallon”, AAA spokesman Jim Lehman said in a statement.

During the recession, gas prices fell to these levels because of weak demand for oil and for driving.

“Through September, the most recent data from shows Americans have driven 2.4 trillion miles for the year which is a 3.5% increase over 2014”, said Bishop.

Many are suspicious when prices go up around a holiday, but DeHaan says the Christmas holiday is not the reason.