The following was reported by the American Automobile Association (AAA).
The holiday season is delivering a gift for drivers as the national average dropped 5 cents since last week to $2.94. Gas prices are the lowest they’ve been in four years. The national average has stayed below the $3 mark since hitting $2.99 on December 2. As a record number of travelers prepare to hit the road later this month, they’ll be paying less than they were last holiday season when the national average was $3.04 to close out 2024.
- Thursday, Dec. 11’s National Average: $2.940
- One Week Ago: $2.991
- One Month Ago: $3.072
- One Year Ago: $3.020
According to new data from the Energy Information Administration (EIA), gasoline demand increased from 8.32 million b/d last week to 8.45 million. Total domestic gasoline supply increased from 214.4 million barrels to 220.8 million. Gasoline production decreased last week, averaging 9.6 million barrels per day.
Oil Market Dynamics
At the close of Wednesday, Dec. 10’s formal trading session, WTI rose 21 cents to settle at $58.46 a barrel. The EIA reports crude oil inventories decreased by 1.8 million barrels from the previous week. At 425.7 million barrels, U.S. crude oil inventories are about 4% 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 38 cents.
State Stats
Gas
The nation’s top 10 most expensive gasoline markets are Hawaii ($4.44), California ($4.41), Washington ($4.04), Oregon ($3.66), Alaska ($3.63), Nevada ($3.55), Arizona ($3.20), Washington, DC ($3.19), Pennsylvania ($3.17), and New York ($3.11).
The nation’s top 10 least expensive gasoline markets are Oklahoma ($2.36), Texas ($2.51), Iowa ($2.52), Colorado ($2.52), Arkansas ($2.53), Mississippi ($2.54), Wisconsin ($2.57), Louisiana ($2.57), Missouri ($2.59) and Kentucky ($2.59).
Electric
The nation’s top 10 most expensive states for public charging per kilowatt hour are West Virginia (51 cents), Alaska (48 cents), Hawaii (48 cents), Louisiana (44 cents), New Hampshire (44 cents), South Carolina (44 cents), New Jersey (43 cents), Alabama (42 cents), Tennessee (42 cents), and Arizona (42 cents).
The nation’s top 10 least expensive states for public charging per kilowatt hour are Kansas (26 cents), Wyoming (26 cents), Missouri (28 cents), Nebraska (29 cents), Vermont (31 cents), Utah (32 cents), Delaware (32 cents), Iowa (32 cents), Maryland (32cents) and New Mexico (33 cents).
