Utah gas prices have fallen 5.2 cents per gallon in the past week, averaging $2.81 per gallon Monday, according to GasBuddy’s daily survey of 1,171 stations. Gas prices in Utah are 13.1 cents per gallon lower than a month ago and stand 0.5 cents per gallon lower than a year ago.
According to GasBuddy price reports, the cheapest station in Utah was priced at $2.27 per gallon Monday while the most expensive was $3.59 per gallon, a difference of $1.32 per gallon. The cheapest price in the entire country Monday stood at $1.88 per gallon while the most expensive was $4.99 per gallon, a difference of $3.11 per gallon.
The national average price of gasoline fell 3 cents per gallon in the last week, averaging $2.55 per gallon Monday. The national average was down 5.5 cents per gallon from a month ago and 19.3 cents per gallon higher than a year ago.
“Gasoline prices have now slid to their lowest level since March thanks to rising U.S. gasoline inventories and sluggish demand, certainly bringing some Christmas cheer to motorists,” said Patrick DeHaan, head of petroleum analysis for GasBuddy. “The jump in gasoline inventories has been so large it has offset oil prices, which touched $60 per barrel last week, as well as the U.S. and China suggesting they’ve reached a trade deal.
He continued, “Pending more significant proven trade ties between the two major countries, we may have seen the rally in oil stall for now, as refined product inventories post notable jumps going into the end of the year. It may take more inspiration for oil’s recent run to translate over into lackluster gasoline, with motorists the clear beneficiaries – they’ll be able to spend a bit more on shopping for those last minute Christmas gifts.”