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Gas Price Report: Week of Aug. 19, 2019

A record demand of gasoline causes a slowdown in the fall of gas prices.

Gas prices nationwide continued to fall this week, but the decrease has slowed. This is the result of record demand of gasoline. In its latest reading (for the week ending Aug. 9), the Energy Information Administration recorded demand at 9.93 million b/d, the highest since the agency began recording data in 1991.

“Pump prices continue to trend cheaper for most motorists across the country, though the rate at which they are declining slowed in the last week with a handful of states only seeing a nickel decline at the most,” said Jeanette Casselano, AAA spokesperson. “Demand recorded at a surprising all-time high, but it is expected to drop in the coming weeks as summer comes to an unofficial end.”

Today’s national average is $2.61, which is thee cents cheaper than last week, 17-cents less than a month ago and 22-cents cheaper than a year ago. Nearly half of all gas stations in the country are selling gas for $2.50 or less.

National average: $2.61

Local state averages:

CT: $2.80        MA: $2.68       NH: $2.56       NJ: $2.69         NY: $2.85       RI: $2.63

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Historical Context

This week in history: Aug. 21, 1959

Hawaii is admitted into the Union as the 50th state.

National gas price average in 1959: $0.31

Cost to fill a tank (1959/2019):

Nissan Titan

$8.06/$67.86

Buick Regal TourX

$5.05/$42.54

Hyundai Elantra GT Hatchback

$4.34/$36.54

Motorists can find current gas prices along their route with the free AAA Mobile app for iPhone, iPad and Android. The app can also be used to map a route, find discounts, book a hotel and access AAA roadside assistance. Learn more at AAA.com/Mobile.

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