Retail Gas Prices Hit 100-Day Low for National Average in October
Despite fuel issues in the Northeast states, U.S. retail gasoline prices in October hit their lowest levels since July.
by Staff
November 13, 2012
WEXIndex Retail Fuel Price Index is a monthly publication produced by WEX Inc. with market insights provided by OPIS Energy Group. Copyright 2012, WEX Inc., 97 Darling Ave., South Portland, ME 04106. Reproduction without permission is strictly prohibited.
2 min to read
WEXIndex Retail Fuel Price Index is a monthly publication produced by WEX Inc. with market insights provided by OPIS Energy Group. Copyright 2012, WEX Inc., 97 Darling Ave., South Portland, ME 04106. Reproduction without permission is strictly prohibited.
According to WEX Inc., retail gas prices hit their lowest levels since July 23, with the national average dropping to $3.37 per gallon, according to the report dated Nov. 5. This average is slightly above prices during the same time last year.
According to the report, 18 states as of the report's release date could find fuel for less than they were paying during the same period in 2011.
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Even California's has dropped to under $4 a gallon to an average of $3.99 across the state, though that is 16 cents more than last year.
WEX said that the West Coast saw some of the biggest drops in October compared to the rest of the country.
Despite issues facing service lines at gas stations in New York and New Jersey due to Hurricane Sandy, analysts expect prices at the pump will continue to decline the rest of the year with some states seeing prices settle below $3 per gallon.
According to WEX Inc., retail gas prices hit their lowest levels since July 23, with the national average dropping to $3.37 per gallon. This average is slightly above the same price at this time last year.
Even California has dropped to under $4 a gallon to an average of $3.99 across the state. In fact, the West Coast saw some of the biggest drops in October, WEX said.
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Despite issues facing service lines at gas stations in New York and New Jersey due to Hurricane Sandy, analysts expect prices at the pump will continue to decline the rest of the year with some states seeing prices settle below $3 per gallon.
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