The national average for a gallon of gasoline has fallen to $4.11, seven cents less than a week ago and 22 cents less than a month ago.
When compared to a year ago, the price is $1.25 higher.
“The average price for a gallon of gas has fallen below $4 in much of the country,” Andrew Gross, AAA spokesperson, said. “And these lower prices may be a boon to drivers hitting the road more as warmer weather returns.”
The largest decreases were seen in Washington, D.C., Connecticut, Indiana, Ohio, South Carolina, Rhode Island, Georgia, Wisconsin, Florida, and Delaware, where prices dropped between nine and 14 cents.
Missouri, Oklahoma, Kansas, Arkansas, Texas, Maryland, South Carolina, Georgia, Wisconsin, and Nebraska were the least expensive markets. The price varied between $3.67 and $3.78 a gallon.
The price decrease is attributed to a drop in oil prices. Prices have dropped since the United States and its allies agreed to significant releases of oil reserves. Fear of resurgent COVID-19 infections in China and any potential economic slowdown also bring down oil prices.
Total domestic gasoline stocks decreased by 2 million barrels of oil, reaching 236.8 million barrels, according to Energy Information Administration data, while demand increased slightly.