WASHINGTON D.C. — The lower gas prices Hoosiers enjoyed during 2018 should continue for a while in 2019. That’s according to officials from the Energy Information Administration (EIA).
The data collected found gasoline demand at 8.6 million barrels a day for the week ending December 28, 2018 which was the lowest level on record since February 2017. But despite that surplus and a record motor vehicle travel for the end of year holiday season, demand was down nearly 900,000 bbl, suggesting that demand for this winter could be lower than expected.
The national gas price average is $2.24 and has declined for 12 weeks in a row. The national average is three-cents cheaper on the week, 20-cents cheaper than last month and 25-cents cheaper year-over-year.
“As the global crude market continues to be over supplied, oil prices are dropping, continuing last week’s trend,” said Jeanette Casselano, AAA spokesperson. “This is good news for motorists filling up at the pump.”
While Indiana gas prices continue to be below the $2 mark, the Hoosier state was in the top five for 2018 for having one of the biggest yearly decreases, with the state average down about 47 cents.
- The nation’s top 10 least expensive markets are: Missouri ($1.82), Oklahoma ($1.90), Arkansas ($1.91), Texas ($1.91), Alabama ($1.91), South Carolina ($1.91), Mississippi ($1.91), Louisiana ($1.93), Kansas ($1.93), and Ohio ($1.95).
- The nation’s top 10 yearly decreases are: Michigan (-55 cents), Illinois (-49 cents), Ohio (-47 cents), Indiana (-47 cents), Iowa (-47 cents), Wisconsin (-46 cents), Nebraska (-41 cents), Missouri (-41 cents), Kentucky (-39 cents), and Delaware (-36 cents).