Gasoline prices in the United States have now fallen for 12 straight weeks, with the national average as of Monday at $2.24 per gallon, alongside reports indicating the weakest demand since February 2017. As of January 7, gas prices have dropped from the end of the year, and 20 cents from a month ago. They are a quarter of a dollar lower year-over-year, the AAA said Monday in a report.
Drivers in the Rockies region saw the biggest decreases in the country, led by a 9-cents-per-gallon drop in Montana, as refinery utilization jumped six percent on the week. Gasoline stocks increased 252,000 barrels in the week. “With the declines, state gas price averages are inching toward all being close to or below the $2.50 per gallon mark,” the AAA said. Gasoline stocks also continued to build in the Great Lakes and Central region, with nine states there among the ten seeing the biggest year-over-year declines nationwide.