The following is a report from AAA.
Spring weather may be weeks away in much of the country, but the seasonal rise in gas prices is underway. The national average for a gallon of regular gasoline went up by more than 5 cents this past week to $2.98. Refineries are beginning the process of producing summer-blend gasoline which contains pricier additives to help reduce evaporation during warmer months. Gas demand is also expected to increase next month as spring break season kicks off and more drivers take road trips.
Today’s National Average: $2.983
One Week Ago: $2.929
One Month Ago: $2.881
One Year Ago: $3.134
According to new data from the Energy Information Administration (EIA), gasoline demand decreased last week from 8.74 million b/d to 8.73 million. Total domestic gasoline supply decreased from 255.8 million barrels to 254.8 million. Gasoline production decreased last week, averaging 9.2 million barrels per day.
Oil Market Dynamics
At the close of Wednesday’s formal trading session, WTI fell 21 cents to settle at $65.42 a barrel. The EIA reports crude oil inventories increased by 16 million barrels from the previous week. At 435.8 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 stayed the same at 39 cents.
State Stats
Gas
The nation’s top 10 most expensive gasoline markets are California ($4.63), Hawaii ($4.40), Washington ($4.35), Oregon ($3.92), Nevada ($3.71), Alaska ($3.59), Arizona ($3.26), Pennsylvania ($3.12), Washington, DC ($3.09), and Illinois ($3.03).
The nation’s top 10 least expensive gasoline markets are Oklahoma ($2.43), Mississippi ($2.52), Kansas ($2.54), Louisiana ($2.55), Tennessee ($2.56), Arkansas ($2.58), Wisconsin ($2.59), Texas ($2.60), North Dakota ($2.61), and Iowa ($2.63).
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 Delaware (33 cents).
Drivers can find current gas and electric charging prices along their route using the AAA TripTik Travel planner.
