AAA: National gas prices fall 15 cents since last week, trending lower

U.S. gas prices drop below $4.50 per gallon

U.S. gas prices drop below $4.50 per gallon for the first time since mid-May. Washington state's average is still $5.42 per gallon.

The national average for gas is trending downwards after a spike in mid-June, according to AAA.

The motor club association says the average for a gallon of gas fell 15 cents since last week, dropping to $4.52. In Washington, that translated to a 12-cent drop since last week.

According to AAA data, Washington’s average for regular gas went from $5.343 to $5.236 this week.

The cause for lowering prices?—Low demand and a lower global price, says the organization.

"Global economic headwinds are pushing oil prices lower and less expensive oil leads to lower pump prices," said AAA spokesperson Andrew Gross. "And here at home, people are fueling up less, despite this being the height of the traditional summer driving season. These two key factors are behind the recent drop in pump prices."

The Energy Information Administration says gas demand dropped from 9.41 million barrels per day (b/d) to 8.06 million. Paired with domestic crude oil increasing by 5.8 million barrels, speculators say drivers will see further relief at the gas pump.

Current gas averages in our area sit at:

Seattle-Bellevue-Everett: $5.398 regular, $6.435 diesel
Tacoma: $5.133 regular, $6.346 diesel
Olympia: $5.266 regular, $6.358 diesel
Bellingham: $5.026 regular, $6.068 diesel

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AAA reports the largest decreases this week were in Washington, D.C. (−21 cents), Ohio (−20 cents), Texas (−19 cents), Arizona (−19 cents) and California (−19 cents). The least expensive markets are South Carolina ($4.02), Texas ($4.03), Georgia ($4.03), Mississippi ($4.04) and Louisiana ($4.07).