Gas prices see longest downward trend since 2015, but could it be the end of the road?
(Gray News) – The nation’s average gas price has fallen again for the 14th consecutive week, but it’s the smallest weekly decline in months, according to AAA.
Gas Buddy petroleum analyst Patrick De Haan said this streak of price declines has surpassed 2018′s record. It is the longest downward trend since 2015, but the consecutive downfall could be coming to an end.
“All streaks have to end at some point, and the national average for a gallon of gas has fallen $1.34 since its peak in mid-June,” AAA spokesperson Andrew Gross said in a statement.
Gas Buddy experts report the national average price of fuel is down 25.7 cents from a month ago but is still 45.9 cents higher than a year ago.
“With some issues arising in Plains and Great Lakes states as the transition to winter gasoline begins, I think we have the best potential to see the weekly trend of falling prices snapped,” De Haan explained in a statement. “West Coast states also continue to see increases as unexpected refinery issues continue to percolate, preventing a downward move.”
According to gas experts, most of the country is now using winter-blend fuel, which is less expensive than summer blends. AAA reports that only California has yet to make the switch, which is slated to happen on Nov. 1.
Gas Buddy explained winter blends have a higher Reid vapor pressure, which allows gas to ignite more easily to start your car in cold temperatures. This blend is cheaper to produce, which results in lower prices at the pumps from late September through late April.
According to AAA, the lowest gas prices can be found in Mississippi, Louisiana, Texas and Georgia.
Copyright 2022 Gray Media Group, Inc. All rights reserved.