The national average price of gas increased on Feb. 16, marking the first time there has been an uptick in 20 days. Nonetheless, today’s average price of $1.70 hasn’t been seen since January 2009 and customers are paying 55 cents per gallon less than they were this time last year, according to a report by AAA.
AAA pointed out that the slight uptick is likely due to preparations for the annual refinery maintenance season in advance of summer driving season. What’s more, some refineries reportedly have cut production because of abundant supplies and low prices.
The good news for drivers is that gasoline inventories are at higher-than-normal levels and the price of crude oil remains low, which together are likely to result in much lower prices during maintenance season compared to previous years.
Currently, Hawaii ($2.61) has the highest gas average in the nation, followed by California ($2.40). Oklahoma ($1.41), Missouri ($1.41) and Kansas ($1.44) boast the lowest gas prices. Drivers in 34 states are paying averages at or below $1.75 per gallon.