Pump prices hit lowest average level since 2010


The price of regular gasoline dropped to an average of $3.49 a gallon in 2013 from $3.60 in 2012, the AAA says, making last year the cheapest since 2010.

The association reckons pump prices will fall another five cents this year as well.

The fall comes amid a sharp rise in production, with output increasing 4.3% to 9.72M barrels a day in the week ended December 20.

The cheapest gasoline last year was in South Carolina, where the average cost was $3.24, while the most expensive was in California, where the price was $3.89.

ETF: UGA

Comments (21)
  • Moon Kil Woong
    , contributor
    Comments (13389) | Send Message
     
    LOL that's why the oil industry lobbyists want to export domestic oil to shove prices back up. It is only a matter of time before politicians capitulate under a flood of lobbyist money and gas prices rise back up as foreign entities suck America's oil dry the same way we have been sucking the Middle East dry. If you want cheap gas, oppose any export of domestic oil or gas.
    1 Jan 2014, 12:20 PM Reply Like
  • Fracjob
    , contributor
    Comments (2186) | Send Message
     
    Opposition to any export of domestic oil or gasoline would drive the price of gasoline down for a while, until it then would become very expensive. Domestic oil would plunge in price, ending all production growth, and leading to production contraction. Unintended sabotage of our economy, by ending one of the few bright spots of economic growth being the energy revolution, is a very bad idea. Won't bother to talk about different types of oil, because you did not even reflect on this point.
    1 Jan 2014, 12:37 PM Reply Like
  • al roman
    , contributor
    Comments (17164) | Send Message
     
    We're all caught between Scylla & Charybdis.
    1 Jan 2014, 01:44 PM Reply Like
  • King Rat
    , contributor
    Comments (1631) | Send Message
     
    crude (raw) oil and refined (gasoline) oil are two different things. This article is about gasoline. Two separate issues. As for your politically charged statement, post-1970s ME charges what they want for oil so if they are being sucked dry it is at their own request. In 50 years crude oil will be in little demand anyway. Roadwork, plastics, and heating will use plant-derived sources of oil. Most ground-based transportation will use significantly less oil of any source. Ships and planes will be the only primary users of what we now know as "oil". If there is a 50 year supply of crude in the US, why not sell it why it is still profitable to do so?
    1 Jan 2014, 02:02 PM Reply Like
  • al roman
    , contributor
    Comments (17164) | Send Message
     
    With the mix that is brewing this is a battle that fossil fuel will eventually lose out.It's the big investment coming and at a time we're swimming in the stuff.
    1 Jan 2014, 02:13 PM Reply Like
  • Moon Kil Woong
    , contributor
    Comments (13389) | Send Message
     
    Actually there is a direct correlation since most gasoline is processed in the US> AS for seeing how we get ripped off on gasoline all you need to see is US Wholesale gasoline prices which are around $2.40 a gallon. the rest is taxes and how much the gas companies raise the price after dumping all sorts of junk into it including ethanol.

     

    As for the plastics industry, amazingly the US still has a substantial foothold in it although many have been trying to offshore this as well leading to further hollowing out of the US industrial base. We should keep what oil economy we have (plastics, chemicals, pharmaceuticals, specialty materials, refining) here while we can. Exporting it will only lead to more domestic job losses in the long run.

     

    And by the way, I'm not worried about oil being worthless or not sellable in the future. If I was I'd probably be digging a big hole in the ground and blogging about the end of the world.
    1 Jan 2014, 09:39 PM Reply Like
  • justaminute
    , contributor
    Comments (1563) | Send Message
     
    Someone must have hijacked Moon Kil Woong's account. After many years of reading and appreciating many of his comments, he seems to have taken a strange turn in his commentary on this thread.
    1 Jan 2014, 09:43 PM Reply Like
  • al roman
    , contributor
    Comments (17164) | Send Message
     
    It is a complicated issue,even the mid east calls it a curse on one hand.
    2 Jan 2014, 05:40 AM Reply Like
  • deercreekvols
    , contributor
    Comments (9529) | Send Message
     
    $3.67 yesterday in western NY.
    Thank you NY state for the taxes placed on gasoline (and everything else).
    1 Jan 2014, 12:44 PM Reply Like
  • King Rat
    , contributor
    Comments (1631) | Send Message
     
    Taxes alone don't explain the difference. The state-applied tax in California is something like 15¢ but the difference over South Carolina is 65¢. There are other factors, such as refining capacity, state regulations for gas stations, and state-mandated fuel additives.

     

    Besides, western NY and CA residents are considered "wealthier" and more able to pay than residents of SC.
    1 Jan 2014, 01:41 PM Reply Like
  • deercreekvols
    , contributor
    Comments (9529) | Send Message
     
    Allegany County, in western NY, is the poorest county in New York state. Not sure who considers the residents here as "wealthier," but I invite them to tour the county. I will personally take them around and they can see first-hand what poverty looks like.
    1 Jan 2014, 08:18 PM Reply Like
  • TAS
    , contributor
    Comments (3821) | Send Message
     
    Let's compare gas prices during the Bush administration circa 2001-2008 and the present regime's YIO.

     

    Tens of billions of dollars have been wasted at the pump because of misguided energy policies, poor statesmanship and haughty stupidity. Thanks, B'Roke.

     

    Just think of how much better off we would be if the Bush energy policies were going full throttle today.
    1 Jan 2014, 03:07 PM Reply Like
  • justaminute
    , contributor
    Comments (1563) | Send Message
     
    Not a big 0bama fan, nor a Bushie, but the average price of gas in the "Bush years" in inflation adjusted dollars was not that much different. Sure, one or two years were better, but one or two were worse. Distilling it down to a Bush v 0bama comparison is really of little value.

     

    Without decent jobs, the price of gas matters little. I'm more focused on the wages Americans earn so that they are able to afford gas, food, healthcare, utilities and other items that enhance the quality of their lives. Neither Bush nor 0bama (or the Congresses they preside(d) over) has done anything to positively affect the declining wages that the majority of Americans face.
    1 Jan 2014, 03:56 PM Reply Like
  • bgold1955
    , contributor
    Comments (2350) | Send Message
     
    Tas...... You can't even remember history that's barely a decade old. In Texas, gasoline was $1.89 in 2000. Went up to 4.20 in 2008, during W's rein. How does oil go from $ 29 a barrel in 2000 to $140 a barrel in July 2008? Remember you just can't whine with lies here as most folks know better. Also, nobody cares about your politics.
    1 Jan 2014, 04:02 PM Reply Like
  • TAS
    , contributor
    Comments (3821) | Send Message
     
    The average cost per gallon of gas during the Bush Presidency was about two bucks and chump change. You do the math, and see what the current administration's energy and regulatory stance has cost consumers at the pump.

     

    Your comment,bgold1955, is a poor attempt to deflect reality. Apparently, one person cares about my "politics" -- you. And I really don't give rat's patoot about that.
    1 Jan 2014, 07:31 PM Reply Like
  • MisterJ
    , contributor
    Comments (1173) | Send Message
     
    TAS: In both the Clinton and Obama admins the price of gas is stable to down, whereas during the Bush admin it rose roughly three-fold, because he benefited his oil buddies to the detriment of the American people. For sure the American people would be broke now under another Republican oil straw-man president. At least they were smart enough to prevent this for 8 years at least now. Since you seem to be an avid (and paid?) shill for the oil complex, can you tell them to employ people with at least basic understanding in arithmetic? That would make it sound at least a bit realistic.
    1 Jan 2014, 08:35 PM Reply Like
  • justaminute
    , contributor
    Comments (1563) | Send Message
     
    J - cease with the partisan falsehoods.
    1 Jan 2014, 08:59 PM Reply Like
  • mitrado
    , contributor
    Comments (2033) | Send Message
     
    "Your comment,bgold1955, is a poor attempt to deflect reality."

     

    Maybe his comment simply represents a reality you refuse to accept?
    2 Jan 2014, 03:22 AM Reply Like
  • max2205
    , contributor
    Comments (17) | Send Message
     
    Md is 3.95
    1 Jan 2014, 07:57 PM Reply Like
  • Interesting Times
    , contributor
    Comments (15029) | Send Message
     
    Well I still see collusion on the four gas stations on my corner. Prices all the same!!ot much of a drop either. So where's the relief at the pump?

     

    I long for those days when you got a free glass or dish with a fill up. Maybe even check the oil or clan the windows.

     

    Sorry, I just woke up after that dream !!
    2 Jan 2014, 12:23 AM Reply Like
  • al roman
    , contributor
    Comments (17164) | Send Message
     
    Welcome to the 22nd century.
    Just tell us what's in your wallet or we can grab your ankles and shake you upside down it's the "LAW" by the way !
    2 Jan 2014, 05:28 AM Reply Like
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