Gas Prices Hold Steady as Summer Driving Season Enters Final Stretch

After dropping 54 of 55 days, the national average price of gasoline at the pump has held steady over the past week but has declined each of the past four days. The national average price for regular unleaded is $2.12 per gallon, which is the lowest price for this date since 2004. Today’s price is fractions of a penny more than one week ago, but is nine cents less than one month ago and 54 cents less than the same date last year.
As is frequently the case, the Midwest features the most dramatic pump price movement in the nation, including the only five states posting a weekly price change of more than a nickel. This past week’s direction was not uniform as prices in Michigan and Ohio have dropped at the same time prices in Kentucky, Indiana and Minnesota have jumped. Motorists in the Midwest are used to these sorts of price swings, as low supply and the resulting sensitivity to production and distribution issues have caused sharp price increases when refineries go offline, followed by rapid decline in prices when those issues are resolved.








