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Gas Prices Continue to Decline in July

Supply outstrips demand in much of U.S.

by on Jul.31, 2015

The average price for gas has dropped recently in the U.S., despite a sharp spike on the West Coast.

The national average price for regular unleaded gasoline continues to drop as motorists are now paying, on average, the lowest price for gasoline during July since the recession year of 2009.

The national average price is $2.71 per gallon, which is a nickel per gallon less than one week ago and seven cents less than one month ago. Drivers are saving 82 cents per gallon at the pump compared to a year ago, according to AAA. GasBuddy.com also reports that prices continued to fall this week.

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Weekly price comparisons show the majority of drivers in 43 states and Washington, D.C. are saving at the pump. The price is down a dime or more in Ohio, where prices dropped by 17 cents, as well as Indiana, Kentucky and Michigan and despite some regional differences within each state, motorists in a total of nine states are saving a nickel or more per gallon week-over-week. Retail averages climbed higher in seven states during the same period, but in less dramatic fashion. (more…)