The national average for a gallon of regular gasoline fell three cents this past week to $4.06, according to AAA. Crude oil prices are down in the $70 per barrel range amid optimism that the Strait of Hormuz will resume normal operations. Currently, half of states are paying below $4 per gallon on average. Gas prices typically start going down this time of year, as many schools and universities begin fall semesters and fewer people are taking road trips compared to earlier in the summer.
Today’s National Average: $4.063
One Week Ago: $4.098
One Month Ago: $3.796
One Year Ago: $3.170
According to new data from the Energy Information Administration (EIA), gasoline demand decreased slightly last week from 9.04 million barrels per day to 9.03 million. Total domestic gasoline supply decreased from 211.3 million barrels to 209.7 million. Gasoline production also decreased, averaging 9.6 million barrels per day.
At the close of Wednesday’s formal trading session, WTI fell 55 cents to settle at $75.22 a barrel. The EIA reports that crude oil inventories increased by 2.5 million barrels from the previous week. At 407 million barrels, U.S. crude oil inventories are about 6% below the five-year average for this time of year.
EV Charging
The national average per kilowatt hour of electricity at a public EV charging station stayed the same this past week at 42 cents.
State Stats
Gas
The nation’s top 10 most expensive gasoline markets are California ($5.62), Hawaii ($5.45), Washington ($5.14), Nevada ($4.78), Alaska ($4.77), Oregon ($4.67), Arizona ($4.38), Idaho ($4.35), Utah ($4.35), and Illinois ($4.30).
The nation’s top 10 least expensive gasoline markets are Indiana ($3.54), South Carolina ($3.61), Tennessee ($3.61), Louisiana ($3.62), Texas ($3.62), Mississippi ($3.63), Kentucky ($3.63), Oklahoma ($3.64), Arkansas ($3.68), and Alabama ($3.68).
Electric
The nation’s top 10 most expensive states for public charging per kilowatt hour are West Virginia (52 cents), Hawaii (51 cents), Alaska (50 cents), California (47 cents), New Hampshire (47 cents), Louisiana (46 cents), New Jersey (45 cents), Illinois (45 cents), Arkansas (45 cents), and North Dakota (44 cents).
The nation’s top 10 least expensive states for public charging per kilowatt hour are Kansas (31 cents), Missouri (32 cents), Iowa (33 cents), Utah (34 cents), Maryland (34 cents), South Dakota (35 cents), Nebraska (35 cents), Vermont (36 cents), New Mexico (37 cents), and Minnesota (38 cents).
Drivers can find current gas and electric charging prices along their route using the AAA TripTik Travel planner.
