The national average for a gallon of regular gasoline is down 12 cents from last week at $4.42, AAA reported.
Crude oil prices have been going down this week amid reports of peace talks with Iran. But the fragile situation could cause oil prices to spike again if a ceasefire deal isn’t reached. The chart below shows how the national average has fluctuated in recent weeks. Gas prices remain the highest they’ve been in four years and will likely remain elevated as the busy summer driving season gets underway.
Today’s National Average: $4.426
One Week Ago: $4.564
One Month Ago: $4.176
One Year Ago: $3.164
According to new data from the Energy Information Administration (EIA), gasoline demand increased last week from 8.76 million b/d to 9.25 million. Total domestic gasoline supply decreased from 214.2 million barrels to 211.6 million. Gasoline production increased last week, averaging 9.9 million barrels per day.
Oil Market Dynamics
At the close of Wednesday’s formal trading session, WTI fell $5.21 to settle at $88.68 a barrel. The EIA reports crude oil inventories decreased by 3.3 million barrels from the previous week. At 441.7 million barrels, U.S. crude oil inventories are about 2% 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 remained the same this past week at 41 cents.
State Stats
Gas
The nation’s top 10 most expensive gasoline markets are California ($6.07), Washington ($5.74), Hawaii ($5.65), Oregon ($5.27), Alaska ($5.26), Nevada ($5.21), Illinois ($4.86), Arizona ($4.74), Idaho ($4.65), and Washington, DC ($4.64).
The nation’s top 10 least expensive gasoline markets are Indiana ($3.81), Texas ($3.92), Georgia ($3.93), Mississippi ($3.93), Oklahoma ($3.93), Louisiana ($3.94), Kansas ($4.00), Arkansas ($4.01), South Carolina ($4.02), and Alabama ($4.05).
Electric
The nation’s top 10 most expensive states for public charging per kilowatt hour are West Virginia (52 cents), Hawaii (51 cents), Alaska (47 cents), Louisiana (46 cents), New Hampshire (46 cents), California (46 cents), Illinois (45 cents), New Jersey (44 cents), Arkansas (44 cents), and Arizona (43 cents).
The nation’s top 10 least expensive states for public charging per kilowatt hour are Kansas (29 cents), Missouri (32 cents), Maryland (33 cents), Utah (33 cents), Iowa (34 cents), Nebraska (34 cents), South Dakota (34 cents), Vermont (35 cents), New Mexico (36 cents), and Minnesota (37 cents).
Drivers can find current gas and electric charging prices along their route using the AAA TripTik Travel planner.
