Analysts say that recent nationwide declines in gas prices come from lower demand at the pump and a drop in crude oil prices, The Wall Street Journal reports. According to data from AAA, the average price for a regular gallon of gas fell 12 cents to $4.72 on July 8 versus the prices paid on July 1. However, not every state is seeing big price drops.
Hawaii and North Dakota were the only two states with gas price increases from July 6 to July 7 — rising .1 and .7 cents per gallon, respectively, Forbes reports. Alaska, Idaho, Colorado and Montana were the only states to not to see any significant change in gas prices. Hawaii is the only state where gas prices have increased over the span of the last week. Idaho, Wyoming and Utah are the only states to have prices fall by less than two cents per gallon during the same period.
Over the past month, Forbes noted that — broadly speaking — prices are down more than 16 cents per gallon, but also that a dozen states had prices go up during that period: Wyoming (28.4 cents per gallon), Utah (27.4 cents), Idaho (26.1 cents), Montana (22 cents), Colorado (15.6 cents), Hawaii (13.4 cents), Alaska (11.9 cents), South Dakota (10.6 cents), Nebraska (5.6 cents), Kansas (2.2 cents), North Dakota (1.2 cents) and West Virginia (1.1 cents).
Forbes added that Washington, D.C., enjoyed the biggest price drop (5.5 cents) between July 6 and July 7 — while the most significant gas price drop over the last week took place in Illinois (15.9 cents). Wisconsinites took advantage of the greatest gas price drop over the past month (33.8 cents).
The WSJ reported that prices may continue to fall if the trend continues; however, “July is typically the heaviest month for demand as more Americans hit the road, so this trend of easing prices could be short-lived,” AAA spokesman Andrew Gross said in a statement.
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