Gasoline is slowly trending away from its summer peak and seems to be stabilizing in recent weeks.
Despite a number of factors such as the decreased number of oil rigs in the U.S. and a decrease in imported oil from Saudi Arabia, gasoline prices have not seen too much of an increase over the past 30 days; and in fact, in many states, prices have dropped.
According to AAA, gasoline prices have fallen in 35 states and Washington, D.C. week-over-week between July 13-20. That being said, 15 states have experienced a price increase, with California facing the largest increase of 16 cents. California remains the most expensive market for gasoline in the U.S., with the average price per gallon being $3.87. The lowest prices at the pump can be found in South Carolina, at $2.37 per gallon and Alabama at $2.41 per gallon.
The national average price per gallon is currently $2.76 per gallon, which is 82 cents per gallon lower than the national average a year ago. According to AAA, the peak average of 2015 so far (on June 15) has been $2.80, but prices have slowly declined by approximately one cent per week. The national average is remaining relatively stable for the time being, with prices moving, on average, up or down three cents per week.
