Current Gasoline Price Continues Downward Trend

The average price of retail gas in New Hampshire dropped 5.3 cents a gallon last week to its recent average of $3.42 per gallon, according to a daily poll regional gas stations.

Maine’s average price of retail gas also declines 4.9 cents a gallon in the previous week to its recent average of $3.53 a gallon, according to the daily poll of gasoline stations throughout that state.

The decline in both states reflects the same trend seen in the national average price of gasoline that shed 1.6 cents a gallon in the past week to its average of $3.50 per gallon.

Adding the change in New Hampshire’s gasoline prices during the previous week, the average price of gasoline in the state is lower by 42.6 cents compared to the same period last year and 21.3 cents below last month. For Maine, the recent gasoline price average was lower by 40.7 cents compared to the same day last year and 21.5 cents below last month.

The current gasoline price at the national level reflects a decline of 14.5 cents a gallon in the past month and is currently lower by 34.7 cents compared to the same day last year.

The slow downward movement in the prices of gasoline has continued for one more week. While unmatched, the drop in the national average of gasoline has definitely pleased drivers who are used to huge price increases that come during springtime. As Memorial Day draws closer, motorists would be happy to know that gasoline prices would likely stay lower compared to their levels last year.

By: Chris Termeer

Chris Termeer

Chris Termeer is an oil and gas consultant, industry commentator and analyst. His book, Fundamentals of Investing in Oil and Gas provides a comprehensive overview of all aspects of the oil and gas industry, including exploration, drilling, production, storage, transportation and refining, to name but a few.

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