With winter nearly in the rearview, temperatures warmed up while gas prices cooled down. This week, gas prices dropped by three cents, bringing the national average to $3.12 per gallon. Gas prices are expected to remain steady as March arrives and routine seasonal maintenance wraps up.
The national average per kilowatt hour of electricity at a public EV charging station remains the same at 34 cents.
According to new data from the Energy Information Administration (EIA), gasoline demand increased from 8.23 million b/d last week to 8.45. Total domestic gasoline supply increased from 247.9 million barrels to 248.3, while gasoline production decreased last week, averaging 9.2 million barrels per day. Today’s national average for a gallon of gas is $3.12, flat as compared to a month ago and 14 cents less than a year ago.
Oil Market Dynamics
At the close of Wednesday’s formal trading session, WTI dropped $0.31 to settle at $68.62 a barrel. The EIA reports that crude oil inventories decreased by 2.3 million barrels from the previous week. At 430.2 million barrels, U.S. crude oil inventories are about 4% below the five-year average for this time of year.
Quick Gas and Electricity Stats
Gas
The nation’s top 10 most expensive gasoline markets are California ($4.81), Hawaii ($4.54), Washington ($4.14), Nevada ($3.84), Oregon ($3.76), Alaska ($3.46), Arizona ($3.40), Pennsylvania ($3.33), Washington, DC ($3.25), and Illinois ($3.24).
The nation’s top 10 least expensive gasoline markets are Mississippi ($2.67), Texas ($2.69), Oklahoma ($2.73), Kentucky ($2.74), Louisiana ($2.76), Arkansas ($2.78), Alabama ($2.78), South Carolina ($2.79), North Carolina ($2.80), and Tennessee ($2.80).
Electric
The nation’s top 10 most expensive states for public charging per kilowatt hour are Hawaii (55 cents), West Virginia (47 cents), Montana (45 cents), Idaho (42 cents), Arkansas (42 cents), New Hampshire (42 cents), Tennessee (42 cents), Kentucky (41 cents), Alaska (41 cents), and South Carolina (41 cents).
The nation’s top 10 least expensive states for public charging per kilowatt hour are Kansas (22 cents), Nebraska (24 cents), Maryland (25 cents), Missouri (25 cents), Delaware (28 cents), Iowa (28 cents), Texas (29 cents), Michigan (29 cents), Utah (29 cents), and North Dakota (30 cents).
Like Newport Buzz? We depend on the generosity of readers like you who support us, to help with our mission to keep you informed and entertained with local, independent news and content. We truly appreciate your trust and support!
