AAA Monthly Gas Price Report: November 2012 Trends and December Outlook
Gas Prices Drop Slowly in November to Lowest Average Since July
- The national average price of gasoline dropped 11.9 cents a gallon (3.38 percent) in November. This was the fifth monthly decline in gas prices this year, and today’s national average of $3.387 a gallon is the lowest since July 12.
- “Most motorists managed to save a little money on gasoline just in time for holiday shopping,” said Avery Ash, AAA spokesperson. “Prices unfortunately did not fall as quickly as most of us would have liked as a result of factors ranging from fighting in the Middle East to optimism over the ‘fiscal cliff.’”
- The monthly average price of gas was $3.44 a gallon, which was the lowest monthly average since July. The national average price of gas declined for 25 days in November.
- Gas prices nationally have fallen nearly 50 cents a gallon on average since September 14, the day before much of the United States began the transition to winter-blend gasoline.
- Gas prices remain at record highs for this time of year despite recent declines. The national average has broken the daily record high on 106 consecutive days for a total of 220 days this year (65 percent).
- The average annual price of gas for 2012 will be the most expensive on record. The annual average to date is $3.63 a gallon, which is 12 cents more than the current record high set in 2011. Gas prices nationally would need to average about $2.05 a gallon through the end of the year to not break the record.
- The average price of gas in areas hit hard by Hurricane Sandy, including N.J., New York City and Long Island, have returned to pre-storm levels now that gas stations are receiving regular fuel shipments. Average gas prices have dropped 18 cents a gallon in N.J., 21 cents a gallon in New York City and 26 cents a gallon in Long Island from peak prices following the storm.
Gas Prices Likely to Drop through New Year’s Day
- AAA predicts that the national average price of gas will slowly drop through the end of the year and average between $3.20-$3.40 a gallon by New Year’s Day. To date, the lowest daily average of the year is $3.28 a gallon from Jan. 1.
- “Motorists may luck out and pay the lowest gas prices of 2012 by the time they celebrate New Year’s,” continued Ash. “However, there is a small chance that pump prices could rise or remain flat as a result of rising oil prices and other economic factors.”
Today’s Gas Prices (Dec. 3, 2012)
- Today’s national average price of gasoline has slowly dropped 11 days in a row to $3.387 a gallon, which is 3.6 cents less than a week ago, but 10.7 cents more than a year ago.
- The five states with the highest prices are: Hawaii ($4.047), N.Y. ($3.863), Alaska ($3.792), Conn. ($3.782) and Calif. ($3.698). The five states with the lowest prices are: Mo. ($3.140), Texas ($3.143), S.C. ($3.154), Okla. ($3.154) and Tenn. ($3.161).
AAA’s average gas prices are updated daily at FuelGaugeReport.AAA.com with average national, state and local retail prices for gasoline, diesel and E-85. Every day up to 120,000 stations are surveyed based on credit card swipes and direct feeds in cooperation with the Oil Price Information Service (OPIS) and Wright Express for unmatched statistical reliability. All average retail prices in this report are for a gallon of regular, unleaded gasoline.