Topline
As fall looms, the two-month slump in U.S. natural gas prices shows no signs of slowing, which typically results in a seasonal drop in demand that experts say could slow Pushing up the national average below $3.50 a gallon — but these states already have cheaper prices.
Nationwide slump in gasoline prices likely to continue By autumn, this usually results in a weakened … [+] need.
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Key Facts
According to AAA, Arkansas has the lowest average price of a gallon of regular gasoline in the state at $3.42, followed by Mississippi, Georgia state and Texas, both of which have an average price of $3.44.
Clubs under $3.50 are Tennessee ($3.45), Louisiana ($3.47), South Carolina ($3.47), Missouri ($3.48), Alabama ($3.48) and Kansas ($3.49).
Kentucky gas price ($3.51) may drop to Sunday Below $3.50, Oklahoma ($3.52) and Florida ($3.55) are next.
According to AAA, the national average price for a gallon of regular gasoline is $3.91.
Contra
Gas prices in California and Hawaii remain on average At over $5 a gallon, gasoline prices in a few rural counties exceed $6 a gallon. The average gas price in California’s Alpine County on the Nevada border is $6.80 a gallon, compared with $6.50 in neighboring Mono County, according to the AAA. Natural gas sells for an average of $6.32 in Esmeralda County, Nevada, which borders Mono County.
Key Background
Gasoline prices soared in the first half of 2022, peaking at $5.02 per gallon in the U.S. June 14 average, according to AAA data. The surge in crude oil prices was driven by factors including a decline in U.S. refining capacity and an oil embargo on Russia due to the invasion of Ukraine. But sky-high prices have fallen rapidly due to weak demand and recession fears — conditions that are likely to persist in the coming weeks. GasBuddy analyst Patrick De Haan tweeted Friday that prices “almost *always” fall in the fall” due to lower demand.
Further reading
This is the most expensive and cheapest state as US gas prices up to $5 (Forbes)
$3 gas may be coming soon (CNN)
US gasoline prices drop by nearly $4 a gallon — here are the states that are already cheap (Forbes)
