Prices at the pump have dipped down a few cents since last week to reach a national average of $4.33, according to a recent report from AAA.
Gas prices aren’t budging much as crude oil prices remain high, once again nearing $100 per barrel. The national average has stayed above $4 per gallon since late July and is currently more than a dollar higher than it was this time last year. As the graph below shows, the fall months typically bring lower gas prices, but volatility in the oil market has led to seasonal record highs this year.
According to the newest data from the Energy Information Administration (EIA), gasoline demand decreased last week from 8.76 million barrels per day to 8.40 million. Total domestic gasoline supply increased from 204.7 million barrels to 208.3 million. Gasoline production decreased from 9.34 million barrels per day to 9.23 million barrels.
At the close of last Wednesday’s formal trading session, WTI rose 95 cents to settle at $95.09 per barrel. The EIA reports that U.S. crude oil inventories decreased 8.6 million barrels to 415.6 million barrels, 3% below the five-year average.
The national average per kilowatt hour of electricity at a public EV charging station stayed the same this past week at 41 cents.
Gas
The nation’s top 10 most expensive gasoline markets are California ($6.23), Hawaii ($5.63), Washington ($5.42), Nevada ($5.42), Oregon ($4.97), Alaska ($4.96), Idaho ($4.85), Utah ($4.82), Illinois ($4.69) and Arizona ($4.66).
The nation’s top 10 least expensive gasoline markets are North Carolina ($3.70), Georgia ($3.77), Texas ($3.83), Tennessee ($3.88), Indiana ($3.89), Louisiana ($3.90), South Carolina ($3.90), Mississippi ($3.91), Arkansas ($3.93) and Alabama ($3.94).
Electric
The nation’s top 10 most expensive states for public charging per kilowatt hour are Hawaii (54 cents), West Virginia (52 cents), Louisiana (49 cents), California (47 cents), Alaska (46 cents), New Hampshire (46 cents), Arkansas (44 cents), North Dakota (44 cents), Arizona (44 cents), and Nevada (43 cents).
The nation’s top 10 least expensive states for public charging per kilowatt hour are Kansas (32 cents), Missouri (32 cents), Iowa (33 cents), Nebraska (34 cents), Maryland (35 cents), South Dakota (35 cents), Utah (35 cents), Vermont (36 cents), Minnesota (37 cents), and New Mexico (37 cents).
