Gas Prices Dip in the Midwest: Here’s How Much According to the latest data from GasBuddy, gas prices in the Midwest region have declined since last week. The average price for a gallon of regular gasoline in the region currently stands at [insert gas price], marking a decrease of [insert percentage] compared to the previous week. The decline in gas prices is attributed to several factors, including: * Falling crude oil costs: The price of crude oil, a major component of gasoline, has fallen in recent weeks, pushing down wholesale gas prices. * Increased production: Refineries in the Midwest are operating at higher capacities, increasing the supply of gasoline and driving down prices. * Lower demand: Seasonal factors, such as the end of summer driving and the transition to winter blends, have contributed to a decrease in gas demand. The decline in gas prices provides some much-needed relief to drivers in the Midwest, who have faced elevated prices for much of the year. However, analysts caution that prices could remain volatile in the coming weeks due to factors such as global energy markets and geopolitical events. To find the best gas prices near you, consider using fuel-price tracking apps or visiting gas price comparison websites. By monitoring prices and taking advantage of discounts and promotions, drivers can save money on their fuel expenses.
The average price of fuel in the Midwest has fallen about 17 cents since last month. Gas prices in the region last year were as low as $2.77 on January 8, 2024, and as low as $3.77 on August 14, 2023, according to the EIA.
The average price of fuel in the Midwest has fallen about 17 cents since last month. Gas prices in the region last year were as low as $2.77 on January 8, 2024, and as low as $3.77 on August 14, 2023, according to the EIA.
A year ago, the average gas price in the Midwest was 7% higher, at $3.51 per gallon.
>>+INTERACTIVE: See how gas prices in your area have changed over the years at data.monroenews.com.
The average gas price in the United States last week was $3.43, making prices in the Midwest about 4.9% lower than the national average. The average national gas price is down from last week’s average of $3.52 per gallon.
The U.S. Energy Information Administration’s list of prices in the Midwestern states includes Illinois, Indiana, Iowa, Kansas, Kentucky, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, Oklahoma, South Dakota, Tennessee, and Wisconsin.
Gas Prices Dip in Midwest Region Gas prices have decreased across the Midwest region in the past week, providing some relief to drivers. According to data from AAA, the average price for a gallon of regular unleaded gasoline has dropped by several cents in many states. In Illinois, the average price has fallen by 6 cents to $3.83 per gallon. Missouri has also seen a decline of 6 cents, with an average price of $3.74 per gallon. Wisconsin’s average gas price has decreased by 5 cents to $3.79 per gallon, while Iowa’s has dropped by 4 cents to $3.81 per gallon. The decline in gas prices is attributed to several factors, including lower global oil prices and increased production. The region’s ample supply of ethanol has also contributed to the lower prices. While gas prices are still higher than they were a year ago, the recent decrease has provided some financial relief to drivers. Analysts predict that prices may continue to fluctuate in the coming weeks, but they expect them to remain relatively stable.
