Gasoline Prices Remain Stable
The price of a gallon of regular unleaded remained stable with a 1 cent decline to $2.58 for the week following a near-record Thanksgiving travel weekend, according to AAA.
The price of gasoline on Dec. 2 is 3 cents lower than a month ago and 12 cents more expensive that a year ago. AAA predicted that 49 million Americans would travel over the recent holiday. Over the week, many states saw their gasoline averages dip.
Part of the reason for the lack of price movement is due to a 5.1 million build up in gasoline stocks amind flat demand prior to Nov. 22, according to the U.S. Energy Information Administration.
"Gasoline stocks have steadily increased the past few weeks as gasoline demand has started to slow," said Jeanette Casselano, AAA spokesperson. "This trend is creating cheaper gas prices for the majority of motorists."
States with the least expensive markets now include Louisiana ($2.22), Mississippi ($2.22), Missouri ($2.23), Texas ($2.23), Oklahoma ($2.26), Alabama ($2.28), Arkansas ($2.29), South Carolina ($2.29), Tennessee ($2.30), and Virginia ($2.31).
States with the largest weekly changes include Ohio (up 15 cents), Florida (up 7 cents), California (down 6 cents), Indiana (down 6 cents), Michigan (down 5 cents), North Carolina (up 3 cents), Utah (down 3 cents), Washington (down 3 cents), Idaho (down 3 cents), and Alaska (down 3 cents).
Meanwhile, the average cost of diesel increased four-tenths of a cent to $3.07, which is 13.7 cents lower than a year ago, according to the EIA.
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