MANCHESTER — New Hampshire residents are paying about a dime less for a gallon of gas than a month ago and 31 cents below the average cost one year ago.
According to AAA, the average cost for a gallon of regular unleaded gas in New Hampshire was $3.538 on Thursday, down five cents from a week before and nine cents from where it was a month ago. Last fall at this time, the average was $3.850.
“The biggest thing is supply and demand is really working in consumers’ favor right now,” AAA spokesman Michael Green said.
Thursday marked the 10th straight day the average price in New Hampshire decreased.
Green said U.S. supplies are especially high for this time of year, when gas prices traditionally decline with the end of the summer driving season. Green said the high supply and low demand combined with other factors, including a slight drop in oil prices and a decreased likelihood of a military strike on Syria have made it a more significant impact at the pump.
Green said U.S. refineries have also been running well, leading to a national average of $3.434 on Thursday.
Prices are expected to continue dropping, although fall is hurricane season and a major storm could reverse the pattern.
New Hampshire’s average price has been above $3.50 since early July.
Green said 42 percent of gas stations in the Granite State were already charging below $3.50 this week, compared to just 7 percent a year ago.
“It’s very likely that most motorists in New Hampshire will be paying less than $3.50 some time in the next couple of weeks,” Green said.