With Spring Break underway, travelers are seeing slightly higher prices at the pump compared to last week, according to a AAA report. The national average for a gallon of gas went up three cents last Thursday to $3.15. Gas prices typically start going up this time of year and peak during the summer.
However, the national average is still about 30 cents lower than last year, due to tepid gasoline demand and weak crude oil prices.
According to new data from the Energy Information Administration (EIA), gasoline demand decreased from 8.81 b/d last week to 8.64. Total domestic gasoline supply decreased from 240.6 million barrels to 239.1. Gasoline production decreased last week, averaging 9.2 million barrels per day.
The national average for a gallon of gas is $3.15, three cents higher than a month ago and 38 cents lower than a year ago.
At the close of last Wednesday’s formal trading session, WTI rose 65 cents to settle at $69.65 a barrel. The EIA reports that crude oil inventories decreased by 3.3 million barrels from the previous week. At 433.6 million barrels, U.S. crude oil inventories are about 5% below the five-year average for this time of year.
The national average per kilowatt hour of electricity at a public EV charging station stayed the same this past week at 34 cents.
Gas
The nation’s top 10 most expensive gasoline markets are California ($4.66), Hawaii ($4.52), Washington ($4.13), Nevada ($3.77), Oregon ($3.76), Illinois ($3.44), Alaska ($3.40), Arizona ($3.33), Idaho ($3.32) and Pennsylvania ($3.25).
The nation’s top 10 least expensive gasoline markets are Mississippi ($2.68), Oklahoma ($2.72), Louisiana ($2.75), Texas ($2.76), Alabama ($2.77), Tennessee ($2.81), South Carolina ($2.81), Kentucky ($2.82), Kansas ($2.83) and Arkansas ($2.83).
Electric
The nation’s top 10 most expensive states for public charging per kilowatt hour are Hawaii (56 cents), West Virginia (46 cents), Montana (44 cents), South Carolina (42 cents), Tennessee (42 cents), Idaho (42 cents), Alaska (41 cents), Kentucky (41 cents), New Hampshire (40 cents) and Louisiana (39 cents).
The nation’s top 10 least expensive states for public charging per kilowatt hour are Kansas (22 cents), Missouri (25 cents), Nebraska (26 cents), Iowa (26 cents), North Dakota (26 cents), Delaware (27 cents), Michigan (29 cents), Texas (29 cents), Utah (29 cents) and Washington, DC (30 cents).
