Price of Gasoline Continues to Slip in the United States

Price of Gasoline Continues to Slip in the United StatesAlthough, oil prices rose in the past week, but gas prices in the U.S continued to drop at a rate of almost half cent a day.

Countrywide, gas was least expensive in Oklahoma with Arkansas following the trend. National average remained below $2 a gallon for one month. On Monday, the average price of regular unleaded gas per gallon was $1.49 in Oklahoma and $1.58 in Arkansas.

There has been a slide in the gas prices in last month. According to AAA, further drops are expected with a combination of seasonal cuts in demand of gasoline and comparatively lower crude oil price. According to the most recent AAA Fuel Gauge Report, the national average price on Monday of $1.80 a gallon was the lowest price since January 2009.

Mark Jenkins, AAA spokesman said, "Motorists enjoyed the lowest gas prices for the month of January since 2009, largely due to crude oil supply outpacing demand."

According to AAA, the volatility in the market returned last week as the global price of crude oil remain in a swinging mood with news linked to expectations of  oil's future demand and supply.
 

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