updated - May 19, 2013 Sunday EDT
By Zanub Saeed
Car drivers will be happy to hear that the price of gas dropped to six percent over this past month.
The national average price of gas, unleaded, around the United States fell to $3.45 per gallon in June, and this marks the tenth consecutive daily decrease in gas prices, said CNN in a new report. Motorist club AAA released the information this Friday, which was shown to be a drop from the national average gas price released on May 22, at $3.67 per gallon. This is the lowest price of gas, on average, since the beginning of February, noted CNN.
"There's an enormous amount of production out there," Dan Dicker, author of "Oil's Endless Bid: Taming the Unreliable Price of Oil to Secure Our Economy, told CNN."[But] the demand picture looks weak."
Dicker noted that the low demand for gas was a result of Americans simply not driving as much as they used to, or driving in vehicles that have better gas mileage, said CNN, as well as pessimistic comments from around the world about the economy, including Federal Reserve Chairman Ben Bernanke.
The record high of average gas prices was set nearly four years ago, when it hit $4.11 per gallon on average on July 17, 2008, said CNN. The average today is down by 66 cents, or 16 percent, to how it was four years ago. The drop in gas prices mirrored the decline in oil prices around the world, according to CNN. Oil was trading at $78.72 per barrel, which was a 20 percent drop this year to date; the trading had not been this low since October 2011, when it closed at $75.67, CNN reported.
Gas prices decreased around the country, though the highest price of gas per gallon in a single state is still at an alarming $4.35, in the state of Hawaii. Alaska is not far behind that, according to a chart of state gas prices on CNN, where the second non-continental state averages about $4.22 per gallon of oil.
The southern continental United States see the lowest gas prices, including the overall low in South Carolina, with an average $3.04 per gallon of gas, as well as Alabama, Mississippi, Georgia, Arkansas, Texas, and Louisiana, whose average gas price per gallon ranges from $3.11 to $3.26.
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