The following was reported by the American Automobile Association (AAA).
The national average for a gallon of regular gasoline jumped nearly 27 cents since last week to $3.25. The conflict in the Middle East has sent crude oil prices higher to the mid $70/barrel range. The recent increase puts the national average at the same price as it was in early April of 2025. Springtime typically sees higher gas prices as gasoline demand rises and summer-blend gasoline production begins. The last time the national average made a similar weekly jump was back in March of 2022 during the start of the Russia/Ukraine conflict.
- Thursday, March 5’s National Average: $3.251
- One Week Ago: $2.983
- One Month Ago: $2.891
- One Year Ago: $3.107
According to new data from the Energy Information Administration (EIA), gasoline demand decreased last week from 8.73 million b/d to 8.29 million. Total domestic gasoline supply decreased from 254.8 million barrels to 253.1 million. Gasoline production increased last week, averaging 9.3 million barrels per day.
Oil Market Dynamics
At the close of Wednesday, March 4’s formal trading session, WTI rose 10 cents to settle at $74.66 a barrel. The EIA reports crude oil inventories increased by 3.5 million barrels from the previous week. At 439.3 million barrels, U.S. crude oil inventories are about 3% 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 at 39 cents.
State Stats
Gas
The nation’s top 10 most expensive gasoline markets are California ($4.81), Washington ($4.44), Hawaii ($4.43), Oregon ($4.04), Nevada ($3.87), Alaska ($3.72), Arizona ($3.58), Illinois ($3.36), Pennsylvania ($3.35), and Michigan ($3.27).
The nation’s top 10 least expensive gasoline markets are Oklahoma ($2.79), Mississippi ($2.81), Kansas ($2.83), Tennessee ($2.84), Texas ($2.87), Arkansas ($2.90), Louisiana ($2.90), Wyoming ($2.90), North Dakota ($2.91), and Missouri ($2.92).
Electric
The nation’s top 10 most expensive states for public charging per kilowatt hour are West Virginia (52 cents), Hawaii (50 cents), Alaska (48 cents), Louisiana (47 cents), South Carolina (44 cents), New Hampshire (44 cents), New Jersey (43 cents), California (42 cents), Idaho (42 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 (28 cents), Nebraska (30 cents), Utah (31 cents), Iowa (32 cents), Vermont (32 cents), Maryland (33 cents), New Mexico (33 cents), and Colorado (34 cents).
