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Gas prices are tumbling nationwide

Factors include weak demand, overall economic woes and a drop in crude oil prices

By Mitch Lipka Apr 16, 2013 11:25AM

At about the same time of year that gas prices peaked in 2011 and 2012, the price at the pump is on the decline now, according to the latest AAA Fuel Gauge Report.  

The national average for a gallon of unleaded regular gasoline of $3.53, down seven cents from the week before. Gas prices have fallen 16 cents in a month and 38 cents from a year ago.


Gas prices peaked this year on Feb. 27 at $3.79 and have declined all but six days since, according to AAA. The price in 2012 topped off at $3.94 a gallon, in April, and at $3.98 in May of 2011.

 

Prices have fallen most dramatically in Ohio and Indiana, where motorists have seen drops of at least 30 cents a gallon over the past month. Prices have fallen at least 10 cents a gallon over the past month in 40 states, AAA's survey showed.

 

Prices have been declining because of weak demand, overall economic woes and a drop in crude oil prices, AAA said.

Meanwhile, while the decline is good news for motorists who have gotten used to seeing high totals at the pumps, consumers in several states are still seeing prices quite a bit higher than the average.The costliest places to buy gas in the U.S. are and the average price of a gallon of unleaded regular are:

  • Hawaii ($4.39)
  • Alaska ($3.99)
  • California ($3.98)
  • Washington, D.C. ($3.88)
  • New York ($3.79)
Image: Gas pump (© Thinkstock, Jupiterimages)These are the states that have had the biggest drop in gas prices over the past week, the size of the decline, and the average price of a gallon of unleaded regular:
  • Indiana ($3.42, down 18 cents)
  • Ohio ($3.38, down 16 cents)
  • Michigan ($3.51, down 13 cents)
  • Kentucky ($3.43, down 10 cents)
  • Illinois ($3.68, down 10 cents)

Drivers in Missouri and Oklahoma, where prices dropped by 8 cents in the past week, are paying less than $3.35 a gallon, according to AAA.

The website GasBuddy.com, which tries to help consumers find the cheapest gas by location, says motorists are seeing the lowest prices in South Carolina, Oklahoma and Tennessee -- all of which have an average of below $3.30 a gallon.  The cheapest place to buy gas in the U.S. right now: the Greenville-Spartanburg area in South Carolina, where the average is between $3.19 and $3.20 a gallon.

If you're planning a long car trip, you can use AAA's Fuel Cost Calculator to help determine how much you might spend on gas.

Consider changing some of your driving habits to save some more money at the pump. Driving more efficiently can help improve gas mileage -- in some cases up to 30%. The U.S. Environmental Protection Agency recommends avoiding rapid acceleration and stopping, adhering to the speed limit, removing excess weight from the vehicle, avoiding idling, using cruise control, and using overdrive gears.

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33Comments
Apr 16, 2013 12:29PM
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Tumbling would mean way under 3 dollars. 
Apr 16, 2013 12:28PM
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Have you ever noticed that when things seem to be on the verge of collapse,  gasoline prices drop a little. Just enough so folks get over the shock of the price that was way too high to begin with. Have you noticed all the lame excuses they give when prices rise when everyone knows we have a crude supply glut. Sure you have, we just have done nothing to stop it. Yet we march on Washington about everything else.
Apr 16, 2013 12:41PM
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With current demand they should be a lot lower. So much for supply and demand. THANKS SPECULATORS and with the states and government wanting to increase the sales taxes the little guy gets screwed again
Apr 16, 2013 12:59PM
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The oil companies have us trained. If gas is $3 a gallon they boost it to $3.50,then a couple weeks later drop it to $3.25, and we are happy for the "lower" price. Then a month or so later they take it back up to about $3.60 or so, let it stay for a week or two, then drop it 10 cents, and we are thrilled that gas is "only" $3.50 a gallon. So now we are happy that the price has dropped, when it is really 50 cents higher than it was a few months ago....then they start the whole process over again. All with the blessings of our wonderful corruption free government. (By the way, that last line was sarcasm for those of you who think our elected officials are there for us and not themselves.) 
Apr 16, 2013 12:51PM
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And did you notice like you say if the price slips a little like 14 cents in 2 weeks it is tumbling however if

it goes up 14 cents it is edging up? Or even more preposterous, it is holding steady.

Apr 16, 2013 1:12PM
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I don't consider a 1% decrease in gas prices "tumbling", when it should be about $2 per gallon.
Apr 16, 2013 1:36PM
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We're STILL being screwed. The price goes up 10 cents overnight, then takes three months to drop six. Face it big oil could care less about the American people. As long as they own congress nothing will change. The XL pipeline will only make Canadian oil companies more money, they have even admitted the oil will be sold to the rest of the world ,not us.
Apr 16, 2013 12:42PM
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Would someone let Nevada know?  The prices aren't falling here.

Apr 16, 2013 1:17PM
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Think about the Koch brothers who own most of the refineries.   Why do you think they can afford millions to buy their politicians .

Tex 

Apr 16, 2013 1:51PM
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Gas prices are the biggest rip-off, scam, con, in the history of the world. Imagine how much the oil companies would owe in total and to you individually, if they were forced to return the money they've stolen over the years. Oil company executives and their rotten politician employees should be arrested and taken to Guantanamo for questioning and water boarding. Then make them admit to scamming the public (same as Enron did) on TV, then life in prison at hard labor (like the prison in Cool hand Luke).
Apr 16, 2013 1:57PM
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until we as a nation refuse to let them get away with it, we will continue to pay. The only way I can see to do that is to stop making useless trips. Maybe a national no driving day every week for a month so everyone can plan a day that month to not drive. The stock pile would be overflowing.
Apr 16, 2013 1:33PM
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i would buy a horse but cant afford one cause i pay for gas
Apr 16, 2013 2:43PM
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Now we can afford to go on a vacation. 

Wait!  Everybody is unemployed and their benefits ran out. Guess they will have to stay home and read the job wanted ads. 

Will make it easier for the illegal aliens, I mean "immigrants", to afford to come to the US.
Apr 16, 2013 2:59PM
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Nationwide averages of pump price against oil price -- early 2011 ppb 93 = average U.S. pump price at 2.73.   February 2012, ppb 100, pump price 3.48.  But wait, you say, we're 7 dollars lower ppb and the "tumble" in pump price still has nationwide averages above 3.48??? 

 

There is an undeniable ratcheting effect viewing historical data.  It is the biggest drag on a 'recovery' there is.  It is a central reason for the advent of the second great depression.  No other commodity has the market behavior between ppb crude and pump price gasoline.   Historical price data charts show even an inverse move in some periods.  There is no market.  There is only manipulation.

 

Why the denial? 

Apr 16, 2013 2:43PM
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there is no one in the government that understands what the high cost of fuel do to folks like myself the news media doesn't` have a clue either.  the effect that it has on people in my wage classification is never considered by the media or the political element.   everything that is delivered is done by fuel so if prices go up on oil then they will go up in the stores and they will never go down again.  there is not one of the media or of the political element that would trade me or anyone in my place for six months and pay my bills and utilities costs that would in a heartbeat see how the high cost of fuel effects us.  i hear all of things that the political element says. but nothing about controlling the raising cost of fuel. the oil people are only interested in getting billions of dollars more for the feathering of there own nest the c.e.os are only concerned about there millions they make in salary.  they cannot spend all thy make and none of these people including the political element care about any of us who try to just get by. this thing about gas prices falling has not happened here in southeast Idaho there is no reason whatsoever  that prices should be over $2.00 a gallon it is nothing but greed.

Apr 16, 2013 1:22PM
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Not in the Metro-detroit area. another 25 cent jump to $3.69 overnight. WTF!

Apr 16, 2013 1:56PM
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Gas prices tumble? Where are they tumbling? Oil goes up 1 dollar a day as gas goes up 10 cents a day. Oil goes down 3 dollars a day, gas goes down 3 cents every other day..  It has been sitting at $3.59 here in Phoenix for about 2 weeks... Where is it tumbling as oil goes down!  Everyone remember, when Bush left office gas was $1.87 a gallon..  But hey, don't worry because Obama and his lap dogs will make everything good when he gets reelected! Yeah right... Obama has done everything in the world to make living cost higher and he isn't ready to stop.. Notice he only had a 18.4 % tax rate.. Isn't the tax rate one of the things liberals talked about to make Romney look bad all that time? After all, I had to pay 35% and I didn't even make as much as the Obama's did! Why did he reap the lower rate? Liberal scum, They can do what ever they want but cry when someone else gets something. All you sleazy **** liberals who posted here online crying about Romney's tax rate can kiss my ****! The Obama's are Millionaires and get the same stupid low rate so die morons! I hope your savior takes away all your freebies now!
Apr 16, 2013 3:13PM
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There are many stupid reasons...but, like the other guy before me said, "TAKE A GOOD LOOK AT THE * KOCH * BROTHERS"... AND THEIR INVOLVEMENT IN "BUYING THE FEDERAL GOVERNMENT" !!  ** TOTALLY SHOCKING **...LOOK 'EM UP...YOU'LL BE OUTRAGED.  IT'S TOTALLY UNBELIEVABLE...BUT **TRUE** !

Apr 16, 2013 4:26PM
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live in Illinois , some days gas jumps 20-25 cents a gallon at All the gas stations where i live.
then you hear on TV gas went up 3 cents. What is your choice if you need gas you pay. 
Come on Folks we need to do something to stop these blood suckers.
Apr 16, 2013 4:08PM
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What do you expect for the week of Tax Returns?  I just sent in 664 dollars last week to Bullmerica after paying all year long.  I hae left my car parked most of this week.  No need to work if Bullymerica gonna take it.  Leave the car parked.  Saves on gas.  May sell one car. That would save on gas and insurance.  If most are like me, there will be less driving this week.  CONgress made the IRS take my vacation money.  So, I won't have to go anywhere now.  I can stay home and watch the "ask your doctor" ads and the "we kin gitche de moni ye deserve"....don't you think that pore man bout to cry?

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