The winter storm that wreaked havoc on most of the nation has led to supply disruptions and pushed up the national average for a gallon of regular gasoline to $2.87.
Below-freezing temperatures and lingering snow have disrupted some crude production and refinery operations, while gasoline demand increased pre-storm as drivers filled up their tanks ahead of the severe winter weather. Those factors have led to a rise at the pump over the last week but not enough to match last year’s national average at this time of $3.12.
Today’s National Average: $2.874
- One Week Ago: $2.850
- One Month Ago: $2.825
- One Year Ago: $3.120
According to new data from the Energy Information Administration (EIA), gasoline demand increased last week from 7.83 million b/d to 8.75 million. Total domestic gasoline supply increased from 257 million barrels to 257.2 million. Gasoline production increased last week, averaging 9.6 million barrels per day.
Oil Market Dynamics
At the close of Wednesday’s formal trading session, WTI rose 82 cents to settle at $63.21 a barrel. The EIA reports crude oil inventories decreased by 2.3 million barrels from the previous week. At 423.8 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 remains at 38 cents.
State Stats
Gas
The nation’s top 10 most expensive gasoline markets are Hawaii ($4.41), California ($4.26), Washington ($3.88), Alaska ($3.44), Nevada ($3.40), Oregon ($3.40), Washington, DC ($3.10), Pennsylvania ($3.01), Maryland ($2.99), and Vermont ($2.98).
The nation’s top 10 least expensive gasoline markets are Oklahoma ($2.40), Arkansas ($2.43), Mississippi ($2.44), Louisiana ($2.46), Kansas ($2.47), Missouri ($2.49), Texas ($2.49), Tennessee ($2.52), Alabama ($2.52), and North Dakota ($2.52).
Electric
The nation’s top 10 most expensive states for public charging per kilowatt hour are West Virginia (51 cents), Alaska (48 cents), Louisiana (45 cents), Hawaii (44 cents), New Hampshire (42 cents), California (42 cents), New Jersey (42 cents), South Carolina (42 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 (26 cents), Missouri (27 cents), Nebraska (29 cents), Delaware (31 cents), Utah (31 cents), Maryland (31 cents), Iowa (32 cents), Vermont (32 cents), and New Mexico (33 cents).
Drivers can find current gas and electric charging prices along their route using the AAA TripTik Travel planner.
