The price-monitoring website said the statewide average for a gallon of gas is $2.39. Prices are down 95 cents from one year ago.
In addition, BP’s Whiting refinery in the Midwest- which went down unexpectedly a few weeks ago- has returned to service, alleviating concerns of a supply shortage and ushering in lower prices in response.
Gas prices climbed to a $2.99 per gallon high soon after the incident across the Grand Rapids metro area.
“Nationally, gas prices saw their largest weekly drop of the year”, said Patrick DeHaan, GasBuddy senior petroleum analyst.
The average price dropped for 26 consecutive days, had three days of increases totaling 10 cents from Aug. 12-14, then resumed declining on Aug. 15. With refinery maintenance season coming up and the demand from refiners decreasing, oil prices could face more downward pressure on the horizon in the near term.
About 5 percent of stations nationwide are selling gasoline at less than $2 a gallon. Topping the list is Hawaii, down $1.19 a gallon versus a year ago, while the East and South dominate the top ten.
The Orange County average price also dropped for the 16th consecutive day and 42nd time in 45 days, decreasing 1.1 cents to $3.507.