As temperatures have risen this summer, drivers have become less keen to take road trips. (iStock)
According to AAA, gasoline prices fell in line with demand this summer as hot temperatures discouraged drivers from getting on the road.
AAA said the national average price of a gallon of gasoline fell 4 cents from the previous week to $3.50. reportThese low prices are likely to continue as long as auto demand and oil prices remain weak.
“The arrival of summer used to signal the start of the driving season, but that hasn’t been the case recently,” said AAA spokesman Andrew Gross. “While record numbers of travelers were expected to hit the highways around the Fourth of July holiday, they appear to be staying off the roads since then. The recent heatwaves may be to blame. Conditions may improve soon.”
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Save money by buying gas in these states
Gas prices fluctuate for motorists across the country, with some states seeing higher average prices than others. Here are the 10 states with the cheapest gas prices:
- Mississippi ($2.99)
- Louisiana ($3.10)
- Texas ($3.12)
- Oklahoma ($3.14)
- Tennessee ($3.14)
- Arkansas ($3.14)
- Kansas ($3.16)
- Alabama ($3.17)
- South Carolina ($3.22)
- Missouri ($3.22)
The following 10 states had the highest prices:
- California ($4.71)
- Hawaii ($4.69)
- Washington ($4.26)
- Nevada ($3.99)
- Oregon ($3.98)
- Alaska ($3.85)
- Illinois ($3.83)
- Washington DC ($3.71)
- Pennsylvania ($3.66)
- New York ($3.62)
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Americans typically spend about 24% of their income on mortgage payments.
Rising gas prices are one reason drivers are staying home
The national average gasoline price is expected to remain in the mid-$3 range this summer and could fall below $3 a gallon at tens of thousands of gas stations in the coming months, a research firm said. GasBuddy Predictions.
Despite cheaper gasoline, 23% of Americans plan to forgo summer trips or road trips due to high gas prices, with millennials more likely to scale back their travel plans, according to a recent American Trucking Associations survey. study.
Americans spend roughly 3% of their income on fuel for their vehicles. That equates to roughly $1,712 per year, about 37% more than what Americans think they should be paying for gas. Surveys show that rising gas prices are causing some Americans to rethink traveling, despite favorable gas prices forecasts for the summer.
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