The national average for a gallon of regular gasoline is back on the rise after a week of falling prices, AAA reported. Thursday, Aug. 13’s national average is back up to $4.07 after dropping to $4.00 on Monday. Crude oil prices are once again in the $80 per barrel range amid continued uncertainty along the Strait of Hormuz. While gasoline demand is down, crude oil prices are keeping pump prices higher than normal for this time of year. So far, this is the highest August on record when it comes to the national gasoline average.
- Thursday, Aug. 13’s National Average: $4.0715
- One Week Ago: $4.0633
- One Month Ago: $3.8722
- One Year Ago: $3.1558
According to new data from the Energy Information Administration (EIA), gasoline demand decreased last week from 9.03 million barrels per day to 8.96 million. Total domestic gasoline supply decreased from 209.7 million barrels to 208.7 million. Gasoline production also decreased, averaging 9.6 million barrels per day.
At the close of Wednesday, Aug. 12’s formal trading session, WTI rose 7 cents to settle at $83.27 a barrel. The EIA reports that crude oil inventories increased by 17.4 million barrels from the previous week. At 424.4 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 stayed the same this past week at 42 cents.
State Stats
Gas
The nation’s top 10 most expensive gasoline markets are California ($5.58), Hawaii ($5.43), Washington ($5.16), Alaska ($4.83), Nevada ($4.76), Oregon ($4.69), Idaho ($4.41), Arizona ($4.40), Utah ($4.32), and Colorado ($4.31).
The nation’s top 10 least expensive gasoline markets are Louisiana ($3.57), Indiana ($3.59), Mississippi ($3.60), Alabama ($3.61), Texas ($3.63), South Carolina ($3.65), Tennessee ($3.65), Kentucky ($3.70), Arkansas ($3.71), and North Carolina ($3.72).
Electric
The nation’s top 10 most expensive states for public charging per kilowatt hour are West Virginia (52 cents), Hawaii (51 cents), Alaska (48 cents), California (47 cents), Louisiana (47 cents), New Hampshire (47 cents), Illinois (45 cents), New Jersey (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), Maryland (34 cents), Utah (34 cents), South Dakota (35 cents), Nebraska (36 cents), Vermont (36 cents), Minnesota (38 cents), and New Mexico (38 cents).
