15
December
2019
|
17:00 PM
America/Chicago

Falling Demand, Strong Inventories Lead to Lower Gasoline Prices

December is finally bringing cheaper gas prices to pumps across the country.

Today's average is $2.55, which is nearly a nickel cheaper than the beginning of the month.

Decreasing gasoline demand and increasing stocks are driving the change in pump prices. The latest Energy Information Administration (EIA) reports show gasoline demand at its lowest rate since mid-February and the highest stock levels since this summer.

As the weather turns colder, people tend to drive less and gasoline demand falls off. Weak demand, when combined with strong inventories, generally leads to lower prices at the pump for motorists.

Today's national average is two cents cheaper than last week, a nickel cheaper than last month, but 18 cents more expensive than this time last year.

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.