October WEX Fuel Index

The national fuel price average fell more than 10 cents per gallon in the past 30 days reaching $2.19 per gallon. This is nearly 80 cents per gallon less than last year. Nine states currently have an average price less than $2.00 per gallon, with South Carolina in the lead at a price of $1.84.

All other states have an average less than $2.50 per gallon except for Hawaii, California and Nevada, which are at $2.89, $2.83 and $2.71 respectively. Last month only 20% of stations were priced below $2.00 per gallon, but now a whopping 44% of all stations have a price below that. During this time last year, there were no stations below $2.50 per gallon.

Experts predict that the remainder of the month should see prices edge down slightly in most parts of the country with the Rockies and the Pacific Northwest possibly seeing greater declines. Analysts point out that crude prices remain weak and supplies of refined products are in very good shape while demand is up slightly.

Diesel prices are averaging $2.48 per gallon, more than $1.00 less than last year. Market-watchers are predicting diesel fleet fuel prices to remain steady due to a milder forecast for the coming winter.