National gas price average at its lowest point in 110 days

National gas price average at its lowest point in 110 days

National gas price average at its lowest point in 110 days

Gas prices have finally dropped below where they were when Hurrican Harvey sent them skyrocketing.

Its December 18 evidence-based survey of gas prices across the state show the average price of a gallon of gas is $2.49. The national average has decreased 12.9 cents per gallon during the last month and stands 17.3 cents per gallon higher than this day one year ago.

The average price in Florida increased from $2.35 a gallon on August 30 to $2.41 the following day and continued to rise throughout the week as Florida motorists waited in long lines to fill their tanks.

The average price for a gallon of regular gas in the Bradenton-Sarasota-Venice market was $2.35 on Sunday, down 4 cents from last week and 13 cents from a month ago, though they remain 5 cents above previous year, AAA reported Monday.

But they've been declining for five straight weeks, as refineries produce more gasoline than motorists are consuming, leaving markets oversupplied, AAA spokesman Mark Jenkins said.

"As long as demand for gasoline continues to weaken, gasoline inventories will continue growing and it'll be the gift that keeps on giving", he said.

Ohio's gas prices are down three cents since previous year and are down 27.7 cents from last month.

$1.99 per gallon in 2016, $1.75 in 2015, $2.23 in 2014, $3.06 in 2013 and $3.00 in 2012.

The price of gas is up 11 percent from a year ago at this time, when it cost $2.20. It was also 6 cents cheaper than the national average but notably more than Georgia's $2.29 average and Tennessee's average of $2.22. Pennsylvania (sixth), CT (ninth) and NY (10t ) are three of the top 10 most expensive states for gas.

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