Tuesday, 16 October, 2018

AAA: Year-end gas prices to be highest since 2014

OPEC decision could reverse downward trend in gas prices AAA: Year-end gas prices to be highest since 2014
Isabel Fisher | 28 November, 2017, 01:55

In contrast, the cheapest gasoline, at $2.40 per gallon, is in Carbondale.

The state's current average price for self-serve regular unleaded gasoline is about $2.53 per gallon, the Dearborn-based auto club said in a news release early Monday.

Fuel analyst Patrick DeHaan says those prices are nearing the point at which gas stations lose money, which could prompt a price hike this week in Michigan, Ohio and Indiana.

"AAA expects to see gas prices trend cheaper through the year-end, decreasing as much as 20 cents for some motorists before year-end", said Jeanette Casselano, AAA spokesperson. "Lately, we've seen a pattern of smaller seasonal discounts", says Matthew Conde, public affairs director for AAA Idaho.


Prices Sunday in Rockford were 44¢ higher than on the same day one year ago, and 5.7¢ higher than this time last month. That's three cents below the national average of $2.51.

Ohio's gas prices are up 40.4 cents since previous year and are up 3.3 cents from last month.

Production: According to Baker Hughes, Inc., the total oil rig count is now 747, which is 273 more rigs than last year's count at this time. That compares to the national rate, which sits at $2.49 per gallon. The second-lowest price in Broward was $2.33 next door at a Marathon. While AAA does expect gas prices to decline between now and the end of the year, they still would represent the highest November and December prices since 2014. In Kansas, only three percent of gas stations are now selling regular unleaded gasoline for $2.51 or more.

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