Gas Prices Inch Up, but Lowest Prices in Years Due This Summer

The national average price for a gallon of regular gasoline rose 1.3 cents in the past week to $2.223. The most common price is $1.999, and the average difference between the highest and lowest prices is $1.080. One year ago, a gallon of regular gas averaged $2.709 in the United States.

According to GasBuddy, gasoline still averages less than $2 a gallon in five states: Oklahoma ($1.976), Arkansas ($1.985), Texas ($1.991), Louisiana ($1.992) and Mississippi ($1.998). California ($2.799), Hawaii ($2.651) and Washington ($2.542) are the only states with posted average prices above $2.50 a gallon.

Patrick DeHaan, senior petroleum analyst for GasBuddy said:

It has been a decent year to hit the road thus far, and as we near the beginning of the summer driving season, it should be made abundantly clear: this summer will likely be the cheapest summer at the pump in the last decade or longer, and by next summer, gasoline prices will likely have rebounded. I don’t see our current environment of a healthy economy and low gas prices repeating itself again soon, so my advice to motorists is simple: don’t delay your summer travel plans.

[nativounit]

The five metro areas where gas is cheapest are Amarillo, Texas ($1.900); Lubbock, Texas ($1.915); Spartanburg, S.C. ($1.940); Corpus Christi, Texas ($1.948); and Rio Grande Valley, Texas ($1.950). Of the 20 cities where gas prices are highest, 17 are in California. The country’s most expensive gas is selling for $2.968 a gallon in San Francisco.

Among U.S. gas stations, just under 11% are selling gas for $2.50 or more, while 37% are selling gas for $2.25 to $2.49 a gallon and about 21% are selling gas for less than $2.00 a gallon.