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Gasoline Declines to $2.46 Per Gallon

December 12, 2017

Photo by Vince Taroc.
Photo by Vince Taroc.

The national average price of gasoline continued its December decline by falling two cents to $2.46 for the week ending Dec. 11. The largest drops came in the East Coast and Midwest regions, according to AAA.

Drivers can expect further declines this month as supply strengthens and demand weakens, according to Jeanette Casselano, AAA spokesperson.

"Nationally, gas prices are 10 cents cheaper on the month and will continue to drop as we count down the days to the holidays," Casselano said. "AAA expects gasoline demand to weaken throughout the winter, which translates to better prices at the pump."

Consumer gasoline demand came in at less than 9 million barrels per day for the second consecutive week, while inventories increased by nearly 7 million barrels, according to the U.S. Energy Information Administration (EIA).

States with the largest weekly changes include Indiana (up 11 cents), Michigan (up 8 cents), and Kentucky (down 6 cents). States with the least expensive gasoline include Oklahoma ($2.19), Alabama ($2.20), South Carolina ($2.21), and Mississippi ($2.21).

Meanwhile, the average price of a gallon of diesel fell 1.2 cents to $2.91, which is 41.7 cents higher than a year ago, according to the EIA.

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