The national average price for a gallon of gasoline is nearing a record high, now less than 10 cents from dipping below $3 for the first time since May 2021. However, the potential formation of Hurricane Sara in the Gulf of Mexico could disrupt this decline, according to AAA.
“Hurricane Rafael has stopped, but now we’re dealing with the possibility of Hurricane Sara,” said Andrew Gross, a spokesman for AAA. “Some early tracking models point him to Florida by the middle of next week, so stay tuned.”
Current Electricity Prices and Trends
As of today, the national average price for a gallon of gas is $3.08, marking a decrease of two cents from last week. Prices are now 12 cents lower than last month and 27 cents lower than this time last year. Gasoline demand rose from 8.82 million barrels per day (b/d) last week to 9.38 million b/d, while domestic demand fell from 211.3 million barrels per day (b/d) to 206.8 million barrels. Meanwhile, oil production rose to an average of 10.3 million barrels per day last week.
Oil Market Renewal
On Wednesday, West Texas Intermediate (WTI) crude oil rose 31 cents to $68.43 a barrel. The Energy Information Administration (EIA) reports that US crude oil production increased by 2.1 million barrels to 429.7 million barrels, which is about 4% below the five-year average for this time of year.
Gas Price Breakdown
- Top 10 Most Expensive Gasoline Markets: Hawaii ($4.58), California ($4.48), Washington ($3.99), Nevada ($3.76), Oregon ($3.56), Alaska ($3.52), Pennsylvania ($3.26), Washington, DC ($3.25), Illinois ($3.25), and Idaho ($3.19).
- Top 10 Cheapest Fuel Markets: Oklahoma ($2.59), Mississippi ($2.66), Texas ($2.68), Missouri ($2.69), Arkansas ($2.70), Kansas ($2.71), Tennessee ($2.72), Louisiana ($2.76), Alabama ($2.76), and Iowa ($2.78) ).
Electricity prices for public charging stations
AAA also tracks the average cost per kilowatt hour (kWh) of public electric vehicle (EV) charging by country. Today’s national average sits at 34 cents per kWh.
- Top 10 Cheapest States for Public Taxation: Kansas (21 cents), Missouri (24 cents), Nebraska (26 cents), North Dakota (27 cents), Texas (28 cents), Utah (29 cents), Vermont (30 cents), Washington, DC (30 cents ) ), and Michigan (30 cents).
- Top 10 States With the Worst Public Charges: Hawaii (56 cents), West Virginia (44 cents), Montana (43 cents), New Hampshire (42 cents), South Carolina (42 cents), Arkansas (41 cents), Kentucky (41 cents), Idaho (41 cents ) ), Alaska (41 cents), and Tennessee (40 cents).
