Energy

10 States With Very Cheap Gas Prices

Karimala / Getty Images

While gasoline prices are rising across the United States, the average price per gallon of regular is still below $2.50 at about 80% of stations. However, prices are well below that in 10 states, where per-gallon prices are as low as $2.10.

AAA reports that gas prices rose in 40 states last week. That puts prices above were they have been recently but below the same time last year. Specifically, at $2.39, the national gas price average is eight cents a gallon above last week and 12 cents above last month. However, the price is 12 cents per gallon below the same period in 2018.

AAA’s Jeanette Casselano said “On average, gas prices this year are 11 percent cheaper than the first two months of 2018 in part due to mostly cheaper crude oil prices so far this year. Even though pump prices are on the rise, the increase has been countered by mostly decreasing demand, leading to the majority of people still paying less than $2.50.”

One reason gas prices have risen recently and could rise again is that crude oil prices have risen modestly from $51.14 a barrel a month ago to $55.54. Also, February through May is the period when many refineries perform maintenance, which constrains supply.

Presently, the states with the least expensive prices per gallon, as shown below, are Mississippi ($2.10), Alabama ($2.12), Louisiana ($2.12), Arkansas ($2.13), Missouri ($2.13), Texas ($2.14), Colorado ($2.14), South Carolina ($2.15), Virginia ($2.17) and Kansas ($2.18). Note that many are near the huge refineries on the Gulf Coast. Transportation costs are among the factors that drive gas prices.

Want to Retire Early? Start Here (Sponsor)

Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?

Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.

Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.