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AAA: Pump Prices Reach Low Mark For Year

On the week, motorists in 32 states are paying less to fill up compared to a year ago. As the national gas price average drops to $2.46 it sets a new low price for the year and is cheaper than a year ago by two cents.

AAA reported that the last time the daily national gas price average was cheaper year-over-year was 18 months ago on July 6, 2017, when gas prices were $2.24 versus $2.26 on July 6, 2016.

Not only is today’s national gas price average cheaper year-over-year, but also is 31 cents cheaper than a month ago, and on the week 24 states saw gas prices drop double digits.

“Cheap crude oil prices are driving fuel savings at the pump,” said Jeanette Casselano, AAA spokesperson. “Last week crude dropped to its lowest point of the year at $50/bbl. However, this week’s Organization of Petroleum Exporting Countries (OPEC) meeting could cause crude oil prices to jump if the organization decides to reduce crude production.”

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