The People of America's Oil and Natural Gas Indusry

Retail Gas Price Update

Jane Van Ryan

Jane Van Ryan
Posted December 11, 2009

If you're planning to hit the road this weekend for seasonal travel, you're likely to find that gasoline prices are slightly lower. According to AAA statistics, the average price of gasoline dropped for the fifth time in the last six days on Thursday. It fell by 0.6 cent, making the average price $2.623 per gallon.

The data show the least expensive gasoline can be found in Oklahoma, South Carolina and Missouri among others, where the retail price is below $2.50 a gallon. Gasoline prices are influenced by a variety of factors, including the price of crude oil, local and state taxes, local market conditions, and weather.

Truckers and motorists driving cars powered by diesel fuel also are likely to see a slight price decrease at the pump. AAA reported yesterday that the average price of diesel fuel fell 0.3 cent yesterday to a nationwide average of $2.813 a gallon. Texas, Louisiana, and Mississippi are among the states with the lowest diesel prices. All 50 states and the District of Columbia are experiencing diesel fuel prices that are more than $1.537 below their respective all-time high prices.

Millions of Americans are expected to travel during the holidays, making some roads and highways more congested than usual. Remember to drive defensively and wear your seat belt. And if you decide to imbibe in holiday spirits, hand your keys over to a designated driver. Be safe!