Drivers across the U.S. may soon see gas prices dip below $3 a gallon for the first time since 2021. The national average sits at $3.08 per gallon, down two cents from last week, putting it just a dime away from breaking the $3 mark, according to AAA. But as gas prices trend downward, a new hurricane threat in the Gulf of Mexico could bring uncertainty.
Andrew Gross, a spokesperson for AAA, warned of potential disruption. “Hurricane Rafael fizzled out, but now we’re facing the possible formation of Hurricane Sara,” he said. “Some of the early tracking models have her heading toward Florida by the middle of next week, so stay tuned.”
Supply and Demand at Play
Recent data from the Energy Information Administration (EIA) suggests mixed conditions. Gasoline demand increased from 8.82 million barrels per day (b/d) to 9.38 million, while domestic gas stocks dropped from 211.3 million barrels to 206.8 million. At the same time, gasoline production rose to an average of 10.3 million barrels per day.
Meanwhile, oil prices are edging up slightly, with West Texas Intermediate (WTI) crude closing at $68.43 a barrel after a 31-cent increase on Wednesday. U.S. crude oil inventories grew by 2.1 million barrels, but remain about 4% below the five-year average.
Where Gas Prices Stand Across the U.S.
The most expensive gas prices are in Hawaii ($4.58), California ($4.48), and Washington ($3.99), while the least expensive are in Oklahoma ($2.59), Mississippi ($2.66), and Texas ($2.68).
Electric Vehicle Charging Costs
For electric vehicle (EV) owners, the cost of a kilowatt-hour (kWh) at a public charging station holds steady at a national average of 34 cents. Kansas leads with the lowest rate at 21 cents per kWh, while Hawaii tops the list at 56 cents.
With prices near a milestone low, drivers are hopeful—but all eyes are on the Gulf, where Hurricane Sara could bring unexpected shifts to the pump.
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