After 22 straight days of sliding downward, gas prices grew for two straight days to $2.19 per gallon, according to AAA’s Nov. 2 report.
Despite the increase, gas prices remain at the lowest price since 2004, and prices are a whopping 80 cents per gallon less than just a year ago.
The Midwest is experiencing price volatility due to heavy refinery maintenance and unplanned outages. According to the U.S. EIA, refinery utilization in the Midwest hit a five-year low during the month of October, which has contributed to short-term supply challenges throughout the region. Unplanned outages could continue to keep prices volatile in the Midwest heading into winter and could put upward pressure on the national average in the near term.
South Carolina drives continue to enjoy the lowest gas prices at $1.87 per gallon, with drivers in Hawaii paying the most at $2.88 per gallon. For the fifth straight week, drivers in every state are paying averages below $3 per gallon.
AAA noted that retail averages in almost all states (49) are down month-over-month, with consumers in 43 states and Washington, D.C., saving at least a nickel or more per gallon.