Gas prices continue slide

AP Images

AP Images

States with the highest average gas prices: Hawaii ($3.29), Alaska ($3.22), California ($3.15), Washington ($2.91), OR ($2.78), Pennsylvania ($2.73), Nevada ($2.72), CT ($2.69), NY ($2.67) and Montana ($2.62).

Gas prices rose in a handful of historically volatile states: 11 cents in IN, 8 cents in MI, 4 cents in OH and a penny in both Hawaii and IL.

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A week after falling under $2.50 a gallon, the lowest in more than a month, the price of gasoline declined another two cents, AAA said Monday in its weekly tally. The average for Sunday was the same as the week before, according to GasBuddy's daily survey of 5,345 gas outlets in Ohio. East Coast and Midwest states are seeing the largest drops in gas prices - as much as six cents - in the last week. Gasoline supply has recovered due to the lower demand in the last two weeks, largely helping put downward pressure on retail gasoline prices. The average fell 3 cents in Florida to $2.41 and 2 cents in Georgia to $2.32.

The latest report from the EIA shows that total gasoline stocks in the region hit almost 30 million barrels, the highest point since April 29.

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The local average was 23 cents per gallon lower than the national average of $2.47 per gallon.

The Energy Information Administration reports a decrease in demand for gasoline which AAA predicts will allow gas prices to continue fall throughout the rest of the year.

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