Gas Prices Soar Over Last Year, Down on the Month

Weak demand plus increased supply are likely to impact pump prices going forward

Weak demand plus increased supply are likely to impact pump prices going forward

According to a weekly retail market report from AAA, that means the price at the pump should continue to slide as the holidays approach.

The national average was $2.42 a gallon on Monday, down 4 cents from a week earlier, according to AAA. "AAA forecasts a record-setting 97.4 million Americans will take a road trip during the final 10 days of the year". The Florida average is falling at a rate of a penny per day.

The latest Triple-A Fuel Survey puts North Dakota's average at $2.46 a gallon.

The price of gas is up 11 percent from previous year at this time, when it cost $2.20.

Central Intelligence Agency 'helped foil terrorist attack in Russia'
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There is still a potential for further reductions in price. The U.S. average is almost 20 cents higher than this time previous year. The average price for a gallon of gas in CT is $2.65 ($2.67), $2.63 in NY ($2.65) and $2.71 in Pennsylvania ($2.73).

The U.S. average diesel price is $2.88, holding steady from two weeks ago. The cheapest was $2.30 in the Tampa-St. Prices rose as much as 45-50 cents in areas of Florida and Georgia after that.

According to AAA Northeast's weekly survey, the price of regular unleaded gas fell to an average $2.52 per gallon in Rhode Island and $2.46 per gallon in MA.

"As long as demand for gasoline continues to weaken, gasoline inventories will continue growing and it'll be the gift that keeps on giving", added Patrick DeHaan, a senior market analyst for GasBuddy.

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