We saw gasoline prices increase yesterday. An almost 30 cent increase at some west Michigan gas stations.
Does anyone get worked up about gas prices any longer. Maybe it is because prices begin dropping almost immediately after each price spike. We know this week's $3.23 a gallon wouldn't last.
While it was only a month or so ago, prices were close to cresting the $4 dollar a gallon mark, prices have been lower than we've seen in a while.
The average price of a gallon of gasoline fell by nearly $0.14 in July, from $3.753 at the beginning of the month to $3.617 at the end. Not since 2008 has the difference in price of a gallon of gas fallen that much. And in 2008, the month started at an average price of $4.165 before falling to $4.01 by the end.
In the past seven years, only 2008, 2009 and this year have seen average gasoline prices drop. In the other four years they gained from a little (about two cents a gallon in 2010) to a lot (nearly 19 cents in 2013). The data come from the U.S. Energy Information Administration.
The AAA reported earlier this week that the price of regular unleaded gasoline fell on 30 of July’s 31 days, the first time on record that has happened. As of today, July 31, the national average price has dropped about $0.17 a gallon in the month, according to AAA.
Only two states — Hawaii and Alaska — now have gasoline prices that average more than $4 a gallon. Even California is enjoying a respite, with an average of $3.98 a gallon.