The following was reported by the American Automobile Association (AAA).
Gas prices remained relatively quiet this past week. The national average for a gallon of regular went up a couple of cents to $3.07. Even though the national average hasn’t reached the $3 mark, drivers are paying less than they were this time last year, and that trend should continue as we enter the colder months. Gasoline demand goes down in the fall as fewer people are taking road trips.
- Thursday, Oct. 23’s National Average: $3.071
- One Week Ago: $3.057
- One Month Ago: $3.172
- One Year Ago: $3.155
According to new data from the Energy Information Administration (EIA), gasoline demand remained flat at 8.45 million b/d. Total domestic gasoline supply decreased from 218.8 million barrels to 216.7 million. Gasoline production increased last week, averaging 9.6 million barrels per day.
Oil Market Dynamics
At the close of Wednesday, Oct. 22’s formal trading session, WTI rose $1.26 to settle at $58.50 a barrel. The EIA reports crude oil inventories decreased by 1 million barrels from the previous week. At 422.8 million barrels, U.S. crude oil inventories are about 4% 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 36 cents.
State Stats
Gas
The nation’s top 10 most expensive gasoline markets are California ($4.60), Hawaii ($4.48), Washington ($4.37), Oregon ($3.97), Alaska ($3.84), Nevada ($3.80), Idaho ($3.42), Arizona ($3.36), Utah ($3.31) and Illinois ($3.25).
The nation’s top 10 least expensive gasoline markets are Mississippi ($2.61), Texas ($2.61), Louisiana ($2.62), Oklahoma ($2.63), Tennessee ($2.64), Arkansas ($2.66), Alabama ($2.68), Kentucky ($2.69), Missouri ($2.70) and Kansas ($2.73).
Electric
The nation’s top 10 most expensive states for public charging per kilowatt hour are West Virginia (53 cents), Alaska (50 cents), Hawaii (47 cents), South Carolina (44 cents), Alabama (43 cents), New Hampshire (43 cents), Arkansas (43 cents), Wisconsin (42 cents), Louisiana (42 cents) and Oklahoma (42 cents).
The nation’s top 10 least expensive states for public charging per kilowatt hour are Kansas (26 cents), Maryland (28 cents), Missouri (28 cents), Nebraska (28 cents), Utah (28 cents), Delaware (32 cents), Vermont (32 cents), North Carolina (32 cents), Colorado (33 cents) and Iowa (33 cents).
