AAA: Gasoline prices down more than 20 cents since last month

Demand, price of crude drops

Chris Miller
November 13, 2018 - 8:17 am

Gas prices are falling, down more than 20 cents per gallon since mid-October.

"Primarily, we've seen a noticeable decrease in crude oil prices," said Mike Right of AAA. He notes crude prices have fallen about fifteen dollars since last month.

"Back in October, crude was selling for about $75 a barrel," said Right. "Today, it's a little over $60 a barrel."

Right says flattening demand has also contributed, keeping gasoline and crude inventories from falling too much.  He says prices will likely not increase significantly through the end of the year, barring any production cuts from OPEC or Russia, or any unexpected disruptions in supply.

Today's average price for a gallon of regular octane is around $2.37 in metro New Orleans. It was $2.45 last week, and $2.62 last month.

Diesel is averaging $2.98, just pennies lower than last month's $3.02.

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