Gas prices down, but high for time of year

Gas prices down, but high for time of year

Gas prices down, but high for time of year

Rockford's average gas price is $2.54 per gallon. “Driving factors for cheaper gas prices this winter include colder temperatures, the threat of inclement weather and online shopping.”. That is about 10 cents lower than last week's average and up 44 cents from the same time a year ago. The state had the third-argest average price change in the USA this past week, the release said.

"Despite a forecasted 5 to 20 cents decrease in coming weeks, motorists will see higher than expected December gas prices - especially compared to year-end prices from 2015 and 2016", AAA spokesperson Jeanette Casselano said in a statement.

In Virginia, today's average price for a gallon of regular unleaded is $2.30, 32 cents above what it was previous year on this same day.

Meanwhile, oil production in the US reached 9.7 million b/d last week, according to EIA's latest report, a high not seen since April 1971. AAA analysts found gas for as low as $2.33 and as high as $2.65.

In time for year-end road trip planning, AAA has added new tools to to provide more comprehensive gas price data and insight to motorists and journalists.

Increased oil inventories and domestic crude production, which reached an all-time high, have contributed to growth in crude exports.

At the upcoming meeting, OPEC and non-OPEC member countries that are a part of the production reduction agreement to curtail supply may decide to extend the agreement beyond its current expiration date at the end of March 2018.

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