Gas prices have dropped for two consecutive weeks in the US, and further decreases are expected in September. A gallon of regular unleaded gas is currently averaging $3.58, compared to $3.68 one month ago. At this rate, gas prices are expected drop below $3.50 by the end of September, after the end of the peak summer driving season.
Several analysts and experts expect that gas prices will move down very sharply after nearing close to $4 earlier in the year. The Wall Street Journal reports that lower oil prices may trigger this. “Somewhere along the line, there will be a 10- to 15-cent drop in gasoline prices,” said Kyle Cooper, managing partner of IAF Energy Advisors in Houston. “You have to expect that those prices start to trickle down.”
Today’s gas prices:
- Hawaii is the only state where gas prices are averaging over $4 per gallon. A gallon of gas there will cost you $4.11 per gallon.
- In New York, a gallon of regular unleaded is averaging $3.88 per gallon.
- In California, a gallon of regular unleaded gas is averaging $3.71 per gallon.
- In Illinois, gas prices are averaging $3.76 per gallon.
- In Florida, gas prices are averaging $3.58 per gallon.
- In Texas, gas prices are averaging of $3.48 per gallon.
- In Massachusetts, gas prices are averaging $3.66 a gallon.
The most profound effect of the drop will probably be in the very populous states such as California, New York and Illinois. These three states have nearly 70 million residents, or 22% of the U.S. population. Some parts of their states have also been hit relatively hard by the recession. This is particularly true in central California, where some areas have an unemployment rate well above 10%. The same holds true in the upstate region of New York.
If you or your business has been affected by this year’s high gas prices,you may want to consider investing in a GPS fleet tracking system. Fleet GPS is a feature-rich navigation system that is uniquely positioned to help improve the efficiency of our cars in ways that reduce fuel consumption and improve sustainability for all. A GPS fleet tracking system can help you save time, money and and reduce fuel costs.