Pump Prices Tumble in November

The national gas price average drops by 21 cents.

On Monday, Nov. 12, the national gas price average hit $2.70, six cents less than the previous Monday, 21-cents lower than last month and only 14-cents more than this time last year, according to AAA.

The year-over-year price difference has not been this small since the beginning of January.

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States are seeing gas price averages that are down five cents to 12 cents per gallon on the week in more than two-thirds of the nation.

Why the drop in pump prices? AAA pointed to a natural dip given the end of refinery maintenance season.

“Prices could plunge even lower, especially if we see a surge in gasoline production after refiners fully restart units from the fall maintenance season,” said Jeanette Casselano, AAA spokesperson. “Also driving down pump prices is the fact that crude oil is selling under $65/bbl, a rare sight this year.”

The nation’s top least expensive market is Delaware ($2.35). Ohio (-12 cents) saw the biggest weekly decrease in prices. Hawaii ($3.91) continues to have the most expensive gas.