Gasoline Price Continues Drop, With Cheapest Fuel in South

With Independence Day on the horizon, the average price per gallon of gasoline continues to tumble, according to online fuel-price information provider GasBuddy.

In the latest reporting period, the price of gasoline rose in three of the 50 states and the District of Columbia, according data provided by GasBuddy on Tuesday.

Gasoline costs an average of $2.27 a gallon in the United States and is the cheapest since 2005, when the national average was $2.11 per gallon.

The average price of gasoline was lowest in South Carolina, averaging $1.945 a gallon. The average price was also less than $2 in Oklahoma, at $1.949 a gallon. The cheapest states for gasoline are in the South: Alabama ($2.014), Mississippi ($2.015), Tennessee ($2.038) and Arkansas ($2.043).

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There are 14 U.S. cities with gasoline averaging under $2 a gallon. Spartanburg, South Carolina, had the cheapest at $1.883 a gallon, followed by Greenville, South Carolina, ($1,892); Oklahoma City, Oklahoma, ($1.899); Tulsa, Oklahoma, ($1.925) and Columbia, South Carolina, ($1.928).

The 15 most expensive cities were all in California, led by San Francisco, where gasoline will set you back $3.169 a gallon on average.

The outlook is looking good for motorists. Oil prices slid almost 3% to seven-month lows on Tuesday after increases in supply by key producers trumped compliance by OPEC and non-OPEC oil producers with a deal to cut global output.

Crude oil for July delivery declined $1.12 to $43.08 at 1:29 p.m., after reaching a 52-week low of $42.75 earlier in the morning.

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