The month of February is kicking off with slightly higher gas prices. The national average for a gallon of regular is up a couple of cents from last week at $2.89. Gasoline demand is down, as fewer drivers hit the road during the recent winter storms. But this is the time of year when pump prices start nudging higher, as spring approaches and refineries start making the switch to summer-blend gasoline production. Current prices remain below what they were this time last year when the national average was $3.12.
Today’s national average: $2.891
- One Week Ago: $2.874
- One Month Ago: $2.812
- One Year Ago: $3.125
According to new data from the Energy Information Administration (EIA), gasoline demand decreased last week from 8.75 million b/d to 8.15 million. Total domestic gasoline supply increased from 257.2 million barrels to 257.9 million. Gasoline production decreased last week, averaging 9.0 million barrels per day.
Oil Market Dynamics
At the close of Wednesday’s formal trading session, WTI rose $1.93 to settle at $65.14 a barrel. The EIA reports crude oil inventories decreased by 3.5 million barrels from the previous week. At 420.3 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 remains at 38 cents.
State Stats
Gas
The nation’s top 10 most expensive gasoline markets are Hawaii ($4.40), California ($4.39), Washington ($3.97), Nevada ($3.51), Oregon ($3.49), Alaska ($3.46), Washington, DC ($3.09), Arizona ($3.08), Pennsylvania ($3.08), and Illinois ($3.03).
The nation’s top 10 least expensive gasoline markets are Oklahoma ($2.36), Arkansas ($2.44), Texas ($2.45), Mississippi ($2.45), Kansas ($2.47), Louisiana ($2.49), Missouri ($2.50), Tennessee ($2.50), Iowa ($2.54), and Alabama ($2.55).
Electric
The nation’s top 10 most expensive states for public charging per kilowatt hour are West Virginia (51 cents), Alaska (48 cents), Hawaii (45 cents), Louisiana (45 cents), New Hampshire (43 cents), California (42 cents), South Carolina (41 cents), New Jersey (41 cents), Alabama (41 cents), and Tennessee (41 cents).
The nation’s top 10 least expensive states for public charging per kilowatt hour are Kansas (25 cents), Wyoming (27 cents), Missouri (27 cents), Nebraska (29 cents), Delaware (31 cents), Utah (31 cents), Maryland (31 cents), Iowa (32 cents), Vermont (32 cents), and Michigan (33 cents).
Drivers can find current gas and electric charging prices along their route using the AAA TripTik Travel planner.
