BOSTON — June 9, 2017 — The national average for a gallon of gasoline has dropped
Some 21 states are currently witnessing lower averages than a year ago, with some states experiencing significantly discounted prices to last year: Ohio (26 cents lower), Illinois (25 cents), Indiana (20 cents), Kentucky (16 cents) and Michigan (13 cents) round out the top five, while Alabama, North Carolina, Georgia, West Virginia, Missouri, Wisconsin, South Carolina and Virginia also have prices at least 5 cents lower than a year ago.
"At the beginning of the year, I would have bet against you if you'd have said gas prices this summer could be lower than last year- which saw the cheapest summer average since 2005. With OPEC's production cut in November, such a prediction seemed next to impossible, but the resiliency of U.S. shale production has indeed surprised," said Patrick DeHaan, GasBuddy senior petroleum analyst.
For some states, however, refinery issues have caused prices to temporarily spike, leading gas prices to surge over year-ago levels. Leading that dubious list: Hawaii (54 cents higher), Nevada (34 cents), Alaska (32 cents), California (31 cents) and Arizona (21 cents). In New Jersey, a state where gasoline taxes spiked 23 cents per gallon last fall, gas prices are 23.5 cents per gallon higher. Motorists can, however, mitigate paying more at the pump by observing the spread between stations in any market and still come out less scathed than they would by not shopping around.
"There is, however, some good news for everyone. With oil prices plummeting some 5% so far this week, there will likely be lower gasoline prices coming for much of the country, but motorists should still be cautious of low gas prices: the likelihood of getting a bad deal on filling up rises as prices fall," noted DeHaan, citing a previous GasBuddy study that found more Americans overpay at the pump when gas prices were low.
About GasBuddy
GasBuddy is a smartphone app connecting drivers with their Perfect Pit Stop. GasBuddy is the leader in crowdsourced information to help drivers find the best gas prices, closest stations, friendliest service, cleanest restrooms, tastiest coffee and much more. GasBuddy is the leading source for the most accurate, real-time fuel prices at more than 140,000 gas stations in the U.S, Canada, and Australia. The Company’s B2B Retailer Software-as-a-Service (SaaS), known as GasBuddy Business Pages, provide Fuel Marketers and Retailers their best opportunity to maintain their station information, manage their brand, and promote to their target consumer audience. For more information, visit https://www.gasbuddy.com or email [email protected].