Drivers in 36 states can find at least one station selling fuel for less than $2 per gallon.
The current abundance in fuel supply and declining crude oil costs are helping to keep gas prices low during this year’s summer driving season, as fuel prices have dropped across the country for 35 of the last 36 days.
According to the latest fuel report from AAA, today’s average of $2.21 per gallon marks the lowest national average for the month of July since 2004. Fuel prices are now approximately 55 cents lower than they were at this time last year, and these relative savings are encouraging more Americans to take to the road this summer.
In some parts of the country, fuel prices have fallen below $2 per gallon, an event that has not been seen during the summer months in over a decade. According to the fuel report from AAA, approximately one in four U.S. gas stations are currently selling fuel for less than $2 per gallon. There is at least one station in each of 36 states that is selling fuel for less than $2.
The AAA report projects that gas prices are likely to remain relatively low for the remainder of the summer, as U.S. crude oil supplies are approximately 13% higher than this time last year, and gasoline stocks have reportedly increased to 240 million barrels, the highest mark ever for gasoline supplies during the month of July.
While fuel prices have reached the lowest seasonal point in 12 years, the AAA fuel report notes that a variety of unexpected events, such as disruptions in supply or hurricanes, could drive prices higher as the summer progresses.
According to AAA, seven states are recording average fuel prices that are below $2 per gallon, they include South Carolina ($1.88), Mississippi ($1.97), Oklahoma ($1.97), Tennessee ($1.97), Alabama ($1.97), Arkansas ($1.98) and Missouri ($1.99). That being said, there are only six states that are recording averages above $2.50, and those are California ($2.85), Hawaii ($2.82), Washington ($2.67), Alaska ($2.65), Nevada ($2.55) and Oregon ($2.53).