(INDIANA) - Indiana motorists are paying the lowest average gasoline prices in the nation, according to new data released by GasBuddy.
GasBuddy reported Indiana's average gas price stands at $3.90 per gallon, the lowest among all states. Mississippi ranked second at $3.94 per gallon, followed by Oklahoma at $3.95.
The fuel-tracking company said Indiana's lower prices are due to the suspension of both the state's gas sales tax and gas excise tax.
Nationally, the average price of gasoline fell 6.6 cents over the past week to $4.45 per gallon. However, prices remain 41 cents higher than a month ago and $1.32 higher than a year ago. Diesel prices also declined, falling 4 cents to a national average of $5.57 per gallon.
GasBuddy said average gasoline prices declined in 40 states during the past week as falling oil prices helped offset earlier increases.
"Average gasoline prices declined in 40 states over the last week as falling oil prices helped offset earlier price cycling in many markets, bringing relief to motorists after several states had already seen sharp increases," said Patrick De Haan, head of petroleum analysis at GasBuddy.
Indiana also recorded one of the largest weekly declines in the country, with average prices falling 18.3 cents per gallon. Only New Mexico and Colorado posted larger decreases.
GasBuddy said oil prices moved lower during the week amid optimism surrounding a potential agreement between the United States and Iran, helping ease concerns about global supply disruptions. The company cautioned, however, that oil markets remain volatile and could react quickly to developments in the region.
According to GasBuddy, the most common gas price nationwide is $3.99 per gallon, while the median price is $4.29 per gallon.