tiptrot.com July 17, 2018

AAA: Decline in Gas Prices Will Not Last

21 February 2018, 03:32 | Nichole Osborne

Michigan gas prices fall more than 10 cents in the past week

AAA Western and Central New York: gas prices down slightly across region

AAA's February 19 survey of prices in MA finds self-serve, regular unleaded averaging $2.50 per gallon. And Batavia has an average price of $2.68 per gallon, which is down just one cent.

According to GasBuddy historical data, gasoline prices on February 19 in San Bernardino have ranged widely over the last five years: $2.92 in 2017, $2.40 in 2016, $2.84 in 2015, $3.74 in 2014 and $4.25 in 2013.

If you're looking for the cheapest gas in the state, it can be found in Flint where prices average $2.34 per gallon.

Michigan's 11 cent drop was the largest in the nation this week, and ranks 19th in the country for the least expensive daily gas price. Crude prices have been lower in the past two weeks as investors worry that higher US crude output, which hit a record 10.27 million barrels per day, will undermine attempts to curb global oil supplies.

According to GasBuddy.com, prices on the Cape are between $2.39 and $2.74. During this time, refineries reduce output while they conduct scheduled maintenance on their equipment.

That's about the same price drivers are paying for gas in the Coldwater area.

Prices also have dropped nationally in what is the second consecutive week-over-week decline since the start of the year, according to AAA.

Nebraska's average price a month ago was $2.54, and a year ago it was $2.33.

Experts say the decrease is due to an increase in both oil and gasoline production. Domestic oil production is 14 percent stronger than a year ago, while gasoline production is up 5 percent. That's an increase of around 15 percent. The price was $2.09 per gallon at Walmart, 3404 W. Stan Schlueter Loop.

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