The national average for a gallon of regular is slightly higher than a week ago and 5 cents higher than a month ago. An increase in demand – as the weather gets nicer and more people get out and about – is pushing prices up slightly. But at $3.17, the national average remains well below what drivers were paying this time last year. That’s because the price of crude oil is on the lower side at $62 a barrel compared to $82 a barrel one year ago.
Today’s National Average: $3.171
One Week Ago: $3.167
One Month Ago: $3.127
One Year Ago: $3.660
According to new data from the Energy Information Administration (EIA), gasoline demand increased from 8.46 million b/d last week to 9.41. Total domestic gasoline supply decreased from 234.0 million barrels to 229.5. Gasoline production increased last week, averaging 10.1 million barrels per day.
Oil Market Dynamics
At the close of Wednesday’s formal trading session, WTI fell $1.40 to settle at $62.27 a barrel. The EIA reports that crude oil inventories increased by 0.2 million barrels from the previous week. At 443.1 million barrels, U.S. crude oil inventories are about 5% 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 34 cents.
State Stats
Gas
The nation’s top 10 most expensive gasoline markets are California ($4.80), Hawaii ($4.51), Washington ($4.28), Oregon ($3.92), Nevada ($3.87), Alaska ($3.64), Illinois ($3.42), Arizona ($3.37), Pennsylvania ($3.35), and Idaho ($3.32).
The nation’s top 10 least expensive gasoline markets are Mississippi ($2.68), Oklahoma ($2.71), Texas ($2.74), Louisiana ($2.75), Alabama ($2.78), Tennessee ($2.79), South Carolina ($2.80), Arkansas ($2.80), Kentucky ($2.83), and Kansas ($2.83).
Electric
The nation’s top 10 most expensive states for public charging per kilowatt hour are Hawaii (55 cents), Alaska (47 cents), West Virginia (47 cents), Montana (45 cents), South Carolina (44 cents), Tennessee (43 cents), Kentucky (42 cents), Idaho (42 cents), Louisiana (41 cents), and Georgia (40 cents).
The nation’s top 10 least expensive states for public charging per kilowatt hour are Kansas (22 cents), Missouri (25 cents), Iowa (27 cents), Delaware (28 cents), Nebraska (28 cents), Utah (29 cents), Texas (30 cents), Maryland (30 cents), Vermont (31 cents), and North Carolina (31 cents).
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