Gasoline Prices Down for 99 Straight Days

The average price for a gallon of gas has dropped for 99 days in a row, with six states – Indiana, Kansas, Michigan, Ohio, Oklahoma and Missouri – having average prices under $2 for the first time since 2009, according to the American Automobile Association.

“The global oil market remains in a state of perceived oversupply due to record production from the United States combined with lower than expected global demand,” says the AAA. “Despite falling crude prices, Saudi Arabia, OPEC’s largest exporter of petroleum, has reiterated the cartel’s intention to maintain current production levels and allow the market to self-correct.

The national average price on the second day of the New Year is $2.231, down 9.3 cents since last Friday, the AAA says.

California’s average price for a gallon of gas on Friday, Jan. 2 is $2.637, down 5.3 cents in the past week. A year ago, Californians were paying, on average, $1.026 more per gallon, according to the AAA.

The average price at the pump is below $2.50 per gallon in 38 states with drivers in the Midwest paying the lowest averages in the nation, while the most expensive prices in the continental United States are in the Northeast continue to pay the highest averages in the continental U.S., led by New York ($2.81), Vermont ($2.74) and Connecticut ($2.69).

Hawaii ($3.53) and Alaska ($3.09) remain the nation’s most expensive markets for retail gasoline and are also the only two states with averages above $3.00 per gallon.