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Relief at the Pump Continues for Motorists

The average price for a gallon of regular unleaded has dropped 5 cents nationally and 7 cents in Maryland over the last week, AAA reports.

 

The temperatures might be heating up, but prices continue to cool off as the summer driving season gets underway.

The national average for a gallon of regular unleaded fuel was $3.54 a gallon on Sunday, which is down 5 cents from a week ago and 18 cents cheaper than a year ago, according to the latest AAA survey.

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In Maryland, the news is even better as the average cost for a gallon of regular unleaded was $3.45 on Sunday. That represents a 7-cent decrease from a week ago and 29 cents cheaper than a year ago, AAA reports.

According to a AAA news release, the average cost to fill up nationally has dropped 38 cents since prices peaked in early-April and are currently 55 cents below the all-time record high of $4.11 set in July 2008.

European recession fears and concerns about a reduction in global demand continue to impact crude oil prices which are down 17 percent over the last month, according to the AAA release.

AAA reports that gas prices could fall even further and could slip to $3.50 a gallon nationally by July 4th and as low as $3 later this summer.

Here are some of the cheapest gas prices in the Parkville-Overlea area, according to Patch's gas price tracker and MarylandGasPrices.com:

Gas Station
Address
Price of Unleaded
Sunoco
2920 E. Joppa Road
$3.40
Quest 6232 Belair Road $3.42
10100 Harford Road
$3.44
6109 Belair Road $3.45
9410 Harford Road
$3.45
kevin June 13, 2012 at 01:18 PM
Nothing had more effect on gas prices than Rick Santorum dropping out of race.NEXT day Obama presented a report actually threatening Speculators demanding they have the actual money to purchase oil futures at the rate they were speculating and threatening jail if it could be proved they were raising prices. Sad thing he had this report on how to handle speculators in his pocket for over a year .Sadder yet both parties continue to say they can't control gasoline costs or speculators which means after election is over prices will go up.Please don't use Global crisis excuse as the day he made the announcement N.Korea was preparing to test rocket in two days Iran was threatening military action if sanctions were put in place and they were , Syria was told to stand down,Greece hadn't accepted bail out .So if anything the world situation has gotten worse .We had the stockpile it was just Obama trying to get reelected.But again the GOP hasn't come out saying they were going to control speculators with a plan to put them in jail if they unfairly manipulated the market.

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