by Lacey Pfalz
Last updated: 9:30 AM ET, Fri June 7, 2024
Prices for filling up your car are finally lowering this week, with the national average dropping the most significantly this year to $3.48 per gallon.
The weekly drop was eight cents, though new information reported by AAA and from the Energy Information Administration found that a lower gas demand and higher total domestic gas supply are leading to falling prices at the pump.
The weekly national average is 17 cents cheaper than in May and six cents less than in June 2023. The states seeing the largest price changes are Indiana, Alaska, Illinois, Florida, Michigan, Ohio, Kentucky, Nevada, California and Wisconsin. All of them saw a roughly 17-10 cent drop in price per gallon.
Currently, the states with the cheapest average gas per gallon are Mississippi, Arkansas, Oklahoma, Texas, Kansas, Louisiana, Tennessee, Missouri, South Carolina and Alabama. These states’ gas prices range from $2.98 per gallon to $3.15 per gallon.
However, drivers across the nation are likely to see gas prices drop even more, according to AAA. “This drop in pump prices appears to have some sticking power for now,” said Andrew Gross, AAA spokesperson. “More states should see their averages dip below $3 a gallon in the coming weeks.”
According to a recently published MMGY Travel Intelligence report, 76 percent of travelers are going to travel this year, with 64 percent of these Americans heading out on the roads in the next six months. While inflation remains a concern, these travelers won’t be deterred by gas prices, and they just might be surprised with how these prices continue to fall within the next few weeks.
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