After five straight days of declines earlier this week, the national average is once again on its way back up. Today’s national average is a couple cents lower than last week, but with crude oil prices hovering in the $100/barrel range, pump prices remain elevated. The graph below shows the national average at the same range as it was in 2022, the year gas prices hit record highs. Travelers are preparing to hit the road in record numbers next week, and drivers will be facing the highest Memorial Day gas prices in four years.
The national average per kilowatt hour of electricity at a public EV charging station remained the same this past week at 41 cents.
For the complete fuel report, including the latest EIA data, state gas and EV charging price trends, and oil market dynamics, please visit AAA Fuel Site.
Today’s National Average: $4.534
One Week Ago: $4.558
One Month Ago: $4.118
One Year Ago: $3.180
According to new data from the Energy Information Administration (EIA), gasoline demand decreased last week from 8.81 million b/d to 8.75 million. Total domestic gasoline supply decreased from 219.8 million barrels to 215.7 million. Gasoline production increased last week, averaging 9.8 million barrels per day.
Oil Market Dynamics
At the close of Wednesday’s formal trading session, WTI fell $1.16 to settle at $101.02 a barrel. The EIA reports crude oil inventories decreased by 4.3 million barrels from the previous week. At 452.9 million barrels, U.S. crude oil inventories are about 0.3% 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 remained the same this past week at 41 cents.
State Stats
Gas
The nation’s top 10 most expensive gasoline markets are California ($6.14), Washington ($5.77), Hawaii ($5.64), Oregon ($5.34), Alaska ($5.26), Nevada ($5.23), Illinois ($5.08), Michigan ($4.89), Arizona ($4.84), and Pennsylvania ($4.65).
The nation’s top 10 least expensive gasoline markets are Mississippi ($3.99), Louisiana ($4.00), Texas ($4.00), Georgia ($4.01), Oklahoma ($4.02), Arkansas ($4.06), Alabama ($4.07), Kansas ($4.09), Tennessee ($4.13), and Nebraska ($4.13).
Electric
The nation’s top 10 most expensive states for public charging per kilowatt hour are West Virginia (53 cents), Hawaii (51 cents), Alaska (50 cents), Louisiana (46 cents), New Hampshire (46 cents), California (46 cents), New Jersey (45 cents), Arkansas (44 cents), Illinois (44 cents), and South Carolina (44 cents).
The nation’s top 10 least expensive states for public charging per kilowatt hour are Kansas (29 cents), Missouri (32 cents), Utah (33 cents), Maryland (33 cents), Iowa (34 cents), Nebraska (34 cents), South Dakota (34 cents), Vermont (35 cents), Delaware (37 cents), and New Mexico (37 cents).
Drivers can find current gas and electric charging prices along their route using the AAA TripTik Travel planner.
