GasBuddy.com - 15 Fascinating Facts About Gas Prices
Oct 23, 2013 | 680 views | 0 0 comments | 8 8 recommendations | email to a friend | print


HEAT MAP OF DIFFERENCE IN COUNTY AVERAGES SINCE JULY 2, 2013
HEAT MAP OF DIFFERENCE IN COUNTY AVERAGES SINCE JULY 2, 2013
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1.       At $3.361 gal, the national average on October 21 was lower than the same day last year for the 76th day in a row. Chief Oil Analyst for GasBuddy, Tom Kloza, predicts that we will break the earlier record, an 82 day streak, next weekend. GasBuddy analysts also believe that there is a great chance that before year’s end, U.S. gasoline prices will dip to levels not witnessed since February 2011, when the Arab Spring was in progress.

 

2.       This is the first time since 2009 when the October prices have been lower than the previous year for the majority of the month. In 2009, 26 out of 31 days in October had prices lower than the same day in 2008.

 

3.       October 21 recorded the lowest year-to-date national average ($3.549 gal) since June 10, 2013, when the yearly average up to that point was also $3.549 gal. Yesterday also saw the lowest 30 day average since this past Valentine’s Day, at $3.407 gal, and the lowest seven day average ($3.371 gal) since February 1, 2013 when the previous seven days averaged $3.366 gal.

 

4.       The change from the beginning of the year is the lowest since January 28, 2013, when the average was $3.337 gal, 6.6cts above January 1, 2013’s average of $3.271 gal. Yesterday’s average of $3.361 marked a change of only 9cts above January 1.

 

5.       As of yesterday, 4% of the country was under $3.00 gal. A month ago, less than 1% of the country saw prices under $3.00 gal. Conversely, only 0.6% of the United States could find prices over $4 gal. Last month, nearly 4% of prices were over that threshold.

 

6.       Yesterday, October 21, saw the price of benchmark WTI crude oil settle below $100 bbl for the first time since July 2, 2013. On that day, the average retail price for the country was $3.499 gal, 14cts higher than yesterday’s average.

 

7.       The only state that did NOT have a lower average yesterday than on July 2nd  was South Carolina. Prices there were essentially unchanged from the July 2 reading at $3.136 gal. Every other state was under its July 2nd average, with Utah reflecting the biggest drop since that date with a 33cts gal plunge.

 

8.       Missouri reported the lowest average in the country yesterday at $3.058 gal and Hawaii had the highest at $4.110 gal. Back on July 2, South Carolina held the title for the lowest average at $3.136 gal and unsurprisingly Hawaii had the highest at $4.295 gal.

 

9.       In the last 36 hours, one could find gas for under $3.00 gal in the following 14 states: Louisiana ($2.63 gal), South Carolina ($2.71 gal), Kansas ($2.73 gal), Texas ($2.76 gal), Virginia ($2.85 gal), Oklahoma ($2.87 gal), Missouri ($2.88 gal), Mississippi ($2.89 gal), New Mexico ($2.89 gal), Arkansas ($2.94 gal), Illinois ($2.94 gal), Iowa ($2.95), New Jersey ($2.97 gal), and Tennessee ($2.97 gal). Georgia and South Dakota each have only one station selling gas at $2.99 gal.

 

10.   Hawaii and Alaska are the only two states with more than 1% reporting prices over $4.50 gal. (1.9% of Hawaii has prices over $4.50 gal; 3.1% of Alaska is reporting prices over $4.50 gal.) A month ago, Hawaii had 20% of the state reporting prices over $4.50 gal and Alaska had only 1.8%.

 

11.   Missouri is the only state where the most common price you’d see while driving around is under $3.00 gal; you’ll see $2.99 gal the most often there. Hawaii is the only state where the most common price is over $4.00 gal, at $4.059 gal.

 

12.   Hawaii is the only state where the most expensive 1% of stations average higher than $5.00 gal, at a whopping average of $5.112 gal. A year ago, both California and Washington DC’s highest 1% of stations averaged over $5.00 gal, at $5.031 gal and $5.299 gal respectively.

 

13.   The state with the lowest average of the least expensive 1% of stations is New Mexico, with an average of $2.84 gal. A year ago, Oklahoma had the lowest 1% of stations, averaging $3.041 gal.

 

14.   Delaware has the least variation in prices, with only 28cts separating the 1% highest stations and 1% lowest station prices. Hawaii has the biggest differential, with $1.203 gal separating its highest and lowest priced stations. Last year, it was Vermont reporting the smallest separation, with only a 43ct difference. Washington DC reported the largest difference, with $1.80 separating the highest and lowest sites.

 

15.   The median price in California yesterday was $3.759, making it the state with the largest change from last year’s median number, with prices 64cts gal cheaper this year.

 

For further information or if you have any questions, you can contact Tom Kloza at tkloza@gasbuddy.com or at 732-730-2558.

 

GasBuddy is the premiere source for real-time local gas prices. To download the GasBuddy mobile application for FREE, go to GasBuddy.com.  Users save big money at the pump and can share price discoveries with fellow drivers.

 

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