Gas Still Well Above $3 in Largest U.S. Cities

Energy

Published: November 1, 2014 9:30 am

Last Updated: April 27, 2020 9:57 pm

The national average price for a gallon of regular gasoline has dropped below $3 a gallon — to $2.997 — according to GasBuddy on Saturday morning. Gasoline prices have not been that low since 2010, putting gas on a par with gold, which is also at its lowest price since 2010.

But an average is still just an average, and there have to be low prices and high prices. The low prices in this case are Chattanooga, Tenn., where gasoline costs just $2.638 a gallon, Richmond, Va., ($2.67), Greenville, S.C., ($2.676) and Dallas-Fort Worth, where gasoline costs $2.681 and $2.679 a gallon, respectively.

How high are prices in the highest priced cities? Not including Honolulu ($3.93) and Anchorage ($3.564), the 10 U.S. cities with the highest gasoline prices are:

San Francisco, $3.507
Buffalo, N.Y., $3.463
Bridgeport, Conn., $3.425
Santa Barbara, Calif., $3.395
New York City, $3.394
Bakersfield, Calf., $3.381
Rochester, N.Y., $3.362
Oakland, Calif., $3.362
Los Angeles, $3.351
Long Island, N.Y., $3.348

The price of West Texas Intermediate (WTI) crude oil closed the week at $80.70 a barrel, after touching a new 52-week low of $79.10 last Monday. From a peak of around $106 a barrel, crude has dropped nearly 25%.

Barring a geopolitical event or a weather- or accident-related disaster, crude oil prices are expected to remain low, and some analysts think prices could fall further.

ALSO READ: 4 Oil Service Stocks With Huge Upside Despite Oil Meltdown

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