Since June, gasoline costs have climbed more or less steadily and at the moment are 35 cents per gallon increased than they were a yr ago. In accordance with AAA every day fuel gauge report, which measures gasoline costs across the nation, fuel costs have hit every day report highs a minimum of once in every of the previous six weeks. In Michigan and Ohio, prices rose by 50 cents per gallon previously year. As of October eight, there are seven separate states with gas prices above $four.00 per gallon.

Whereas the value at the pump has risen in each state compared to a 12 months ago, in some states the value of gas has elevated at a a lot slower charge, and plenty of are a lot closer to $three.50 than to $four.00 per gallon, properly below the national average price. In 10 states the common price of a gallon of gasoline is $three.60 or less 18 cents less than the nationwide average of $3.78 per gallon.

24/7 Wall St. reviewed gas costs across all states. We discovered that one in every of an important elements that determined value was a state geographic location. Being close to refining capacity helps minimize out the costs of transporting the gas. As a result, many of the states with low gas costs are positioned on or near the Gulf of Mexico, where the overwhelming majority of the nation oil harvesting and refining takes place. Four of the 5 states that touch the Gulf of Mexico are among the 10 with the lowest fuel costs within the country. Three more states on this checklist Arkansas, Tennessee and Georgia are immediately adjoining to one of many Gulf states.

Gasoline taxes are one other vital subject that impacts gas prices. Of the 10 states with the bottom prices, eight have among the many 15 lowest taxes per gallon of fuel. However the connection between gasoline taxes and cost is removed from perfect. Alaska has the bottom gas taxes at just eight cents per gallon but the second-highest fuel costs. 4 of the 5 states with the bottom gas taxes, including Alaska, aren’t among the ten with the least expensive gas.

While national fuel costs rose over the previous yr, they fell by 5 cents per gallon prior to now month. The states on our listing have been the driving force in that decline. Gasoline prices dropped in 23 states compared to a month ago. Gas costs in all 10 states with the most cost effective gas value have fallen, together with Georgia, where the price per gallon is down by 24 cents.

Based mostly on AAA Every day Gas Gauge report, 24/7 Wall St. identified the states with the least expensive common price of a gallon of unleaded gasoline as of October 2. AAA additionally supplied the change in common fuel prices by state one week, one month and one yr in the past. 24/7 Wall St. also examined the number of refineries and total refining capacity as of January 1, 2012, provided by the U.S. Vitality Info Administration. From the American Petroleum Institute, we obtained state gas taxes, which had been also as of the start of this 12 months. This includes state fuel excise taxes, as well as different taxes (including gross sales tax). 24/7 Wall St. also obtained the relative total cost of living, and the price of paying for transportation, from The Missouri Economic Analysis and data Middle for the second quarter of 2012.

These are the ten states with the most affordable fuel.

1. South Carolina

>Common fuel worth per gallon: $3.Forty nine
>Tax per gallon: 16.8 cents (4th lowest)
>Variety of operating refineries: Zero

Nowhere is gasoline cheaper than in South Carolina, where gasoline is 28 cents per gallon cheaper than the nationwide common, and three cents cheaper than the second-cheapest state, Mississippi. Contributing to low costs are some of the lowest gasoline taxes within the country; South Carolina charges an excise tax of just 16 cents per gallon and other fees and taxes of solely zero.Eight cents per gallon. On September 15, 2008, costs hit their historical peak in the state, at $4.12. In June, gas prices fell below $3 per gallon.

2. Mississippi

>Regular gas value per gallon: $Three.Fifty two
>Tax per gallon: 18.Eight cents (seventh lowest)
>Variety of operating refineries: 3

Final 12 months, Mississippi had a median household income of simply $36,919, making it the poorest state within the nation by that measure. Though the state economic system is suffering, there has solely been a 25 cents per gallon improve in Mississippi gasoline prices over the previous yr, compared a rise of 36 cents nationally. The state currently charges simply 18.8 cents in state taxes per gallon of fuel, less than all but six states. Costs additionally were stored down by a close proximity to the nation largest oil refiners, Louisiana and Texas.

Three. Alabama

>Regular gas price per gallon: $Three.53
>Tax per gallon: 20.9 cents (14th lowest)
>Variety of operating refineries: Three

One year ago, fuel cost $three.30 a gallon in the state, in comparison with a mean of $three.Forty two nationwide. At that time, gasoline prices in 12 states had been cheaper than in Alabama. Since then, the state costs have risen by solely 24 cents per gallon in comparison with a national average increase of 36 cents per gallon, making gasoline in the state far cheaper relative to the rest of the United States. The state helps keep costs low for drivers by limiting gas taxes. The state excise tax of 16 cents a gallon is among the bottom within the county.

Four. Tennessee

>Regular gas price per gallon: $3.53
>Tax per gallon: 21.Four cents (15th lowest)
>Number of operating refineries: 1

As of the second quarter of this yr, no state was cheaper to stay in than Tennessee. One main purpose for the state low relative value of dwelling was its low transportation costs, regardless of starting 2012 with four consecutive months of gasoline value will increase. Though the state has only one refinery, the value of gasoline is 24 cents per gallon beneath the national average worth. Prior to now month, fuel costs in Tennessee have fallen by 12 cents a gallon, one in every of the largest decreases in the nation.

5. Texas

>Regular gasoline price per gallon: $3.Fifty four
>Tax per gallon: 20 cents (tied for eleventh lowest)
>Variety of operating refineries: 26

Texas is the nation largest oil refiner, processing almost four.Sixty six million barrels per day more than a quarter of the nation output in its 26 operating refineries. Like Louisiana, the state further helps keep gas prices low by not charging any state taxes other than a 20-cent excise tax. Two of the biggest public corporations in the nation, Exxon Mobil Corp. (NYSE: XOM) and Phillips 66 (NYSE: PSX), are Texas-primarily based oil firms.

6. Louisiana

>Regular fuel worth per gallon: $Three.57
>Tax per gallon: 20 cents (tied for eleventh lowest)
>Variety of working refineries: 18

Only Texas refines extra oil into gasoline than Louisiana, which has 18 working refineries processing almost three.2 million barrels per calendar day. The abundance of regionally processed gasoline and the full absence of any state fuel taxes except for an excise tax make journeys to the pump highly inexpensive. The state can be dwelling to the Louisiana Offshore Oil Port, which, in response to the EIA, is the nation only port for offloading deep draft oil tankers.

7. Missouri

>Common gas value per gallon: $Three.Fifty eight
>Tax per gallon: 17.Three cents (6th lowest)
>Variety of operating refineries: Zero

Though one yr in the past Missouri had the most cost effective fuel within the U.S., prior to now 12 months the worth of gas has risen by forty five cents per gallon greater than in any other state. Regardless of the absence of any in-state refineries, Missouri has some of the nation lowest fuel taxes, allowing gasoline to be offered at comparatively low costs. Among the many state metropolitan areas, St. Louis has the most cost effective fuel at just $three.Forty nine per gallon.

Eight. Arkansas

>Regular gasoline price per gallon: $3.Fifty eight
>Tax per gallon: 21.Eight cents (16th lowest)
>Number of operating refineries: 2

Arkansas has access to locally refined gasoline. It has two refineries of its personal, and it borders Louisiana and Texas, the two largest oil refiners within the nation as measured by barrels per day. Having numerous refineries nearby helps decrease the value of gas for Arkansas drivers, who presently pay 18 cents much less per gallon than the nationwide average of $3.78 a gallon. Arkansas additionally prices simply 0.Three cents in different taxes per gallon in excise taxes.

9. Georgia

>Common gas worth per gallon: $3.Fifty eight
>Tax per gallon: 28.6 cents (20th highest)
>Variety of operating refineries: Zero

Georgia excise tax of 7.5 cents per gallon of fuel is lower than any state aside from Florida. However with 21.1 cents per gallon in other charges and taxes, Georgians really pay extra in gasoline taxes than residents of 30 different states. Excessive taxes seemingly contributed to the state comparatively greater transportation costs midyear essentially the most expensive among these states with the bottom gasoline costs. The excellent news for drivers, nonetheless, is that the value of gas has fallen by 24 cents per gallon over the previous month, more than in any other state.

10. Virginia

>Regular gasoline worth per gallon: $Three.60
>Tax per gallon: 20.1 cents (13th lowest)
>Number of operating refineries: Zero

In the second quarter of 2012, the relative cost of transportation in Virginia was among the country lowest. Low gas prices are seemingly one motive for this. Virginia can also be one of the wealthiest states within the nation, with a median family earnings of $61,882 as of final 12 months. At the moment, Virginia charges 20.1 cents per gallon in total taxes and charges more than 10 cents per gallon under the nationwide common and inline with different states where gas is inexpensive