Gasoline prices have been on a steady downward trend since late June and the average price of a gallon of regular gasoline in the U.S. is now $3.342 a gallon, the same level as early February, when prices were on their way up to a high of about $3.70 a gallon. Now, prices in some states are expected to fall below $3.00 a gallon by the end of the year.

According to GasBuddy, the five states where the average price of a gallon of gasoline is currently cheapest are South Carolina ($3.089), Mississippi ($3.100), Missouri ($3.125), Tennessee ($3.126) and Louisiana ($3.127). Three of these states impose gasoline taxes that rank among the five lowest in the country (S.C., Mo., Miss.) and the other two are among the lowest 15. Gasoline is more expensive in Louisiana, with 17 refineries, than it is in South Carolina, which has no refineries.

Of the five cities with the cheapest gasoline three are in South Carolina, with Spartanburg taking the low honors with a per gallon price of $3.024. Chattanooga, Tenn., is the second lowest with a price of $3.050 and Tulsa, Okla., is fourth with a price of $3.056.

Only Hawaii, with a price of $4.211 per gallon, continues to post an average price above $4 a gallon. Alaska’s average is $3.898 and California’s has fallen to $3.708, a few fractions of a cent above Oregon and Washington.

The most expensive cities in which to purchase gasoline are Honolulu ($4.145 a gallon), San Francisco ($3.871), Anchorage ($3.777), Seattle ($3.769) and Santa Barbara ($3.749).

Now that the summer driving season is behind us, demand has slackened, helping lower the price. Refineries are also now making cheaper winter-grade fuel which helps keep prices lower until late next February or early March. About the only thing that could push gasoline prices higher now is some sort of “black swan” event.

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