While nationwide average gas prices dropped 13 cents a gallon during the past month, they remain well above the $1.47 average of a year ago. The price drops came as crude oil prices dropped to nearly $41 a barrel this week.
Truckers who rely on diesel fuel and Northwest Airlines told the Detroit News the drop in prices is welcome news to their bottom line. Northwest said a one-cent change in gas prices means $18 million to the airline.
Tom Kloza, chief oil analyst for "Oil Price Information Service," told the newspaper to enjoy the lower prices while they last. "I can tell you in the first and second quarter of 2005, the prices will go up again," Kloza said.
The AAA Motor Club said the highest average prices for gasoline are in Hawaii at $2.44 a gallon; California, $2.16; and New York State, $2.06. The lowest prices are in Oklahoma at $1.66; Ohio, $1.67; and Missouri $1.68.