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After weeks of rising costs, gas prices in the Capital Region have decreased slightly. According to AAA, the average price for a gallon of regular fuel is now $3.17, down two cents from last week. However, this is still 11 cents higher than prices a month ago. The state average stands at $3.19, while the national average is $3.14.
The fluctuation in gas prices is part of a broader trend seen across the United States. A LendingTree analysis highlighted that average daily gas prices have decreased by 7.3% year over year as of June 18. Despite this, prices vary significantly by state due to factors like taxes and access to refineries. For instance, California has the highest average price at $4.65 per gallon, whereas states like Mississippi and Texas enjoy prices below $3.00 per gallon.
The AAA report shows that the District of Columbia has one of the higher regional averages at $3.346, while Vermont and New Hampshire are among the lower ones, with prices around $3.12 and $3.02, respectively. These regional differences underscore the impact of local economic factors on gas prices.
As the summer travel season continues, consumers are advised to monitor prices closely, as fluctuations are expected due to ongoing changes in supply and demand dynamics.