Analysts: Americans spending nearly $100 million less on gas each day

Analysts: Americans spending nearly $100 million less on gas each day
As gasoline prices continue to tumble, analysts say Americans are spending millions of dollars less every day on fuel than they did a year ago (Source: WAFB)

JONESBORO, Ark. (KAIT) -As gasoline prices continue to tumble, analysts say Americans are spending millions of dollars less every day on fuel than they did a year ago

In the past week, according to GasBuddy.com, Arkansas gas prices fell 6.2 cents per gallon to an average of $2.33.

Motorists are paying 17.4 cents a gallon less than a month ago, and 28.8 cents a gallon less than the same time last year.

The cheapest station in Arkansas is priced at $2.04/gallon while the most expensive is $2.99, according to GasBuddy’s weekly survey.

The national average also fell 6.2 cents per gallon to an average $2.67.

“For the sixth straight week, gasoline prices have declined nationally, a feat not often seen heading into the prime of summer driving season,” said Patrick DeHaan, head of petroleum analysis for GasBuddy.

He added that last week’s oil tanker attack did not affect prices and that Americans are likely to see the national average drop for a seventh straight week, “barring any curve balls.”

DeHaan cautions that some states like California, Illinois, and Ohio may see an end to the price drops when those states prepare to raise gasoline taxes ahead of the July 4 holiday.

“For the rest of us, not only can we celebrate the holiday with fireworks, but celebrate the falling prices heading into it,” he said. “Not a bad summer to be hitting the road as Americans are spending nearly $100 million less every day on gasoline than a year ago.”

Whether it’s across town or cross country, to find the cheapest gas wherever you go, click on the KAIT Pump Patrol page.

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