The nationwide common value for a gallon of standard gasoline jumped greater than 10 cents over the previous week, reaching $3.26, based on AAA. This marks the primary time since September that costs have hit this degree, reflecting typical seasonal shifts. Regardless of the rise, costs stay beneath final yr’s nationwide common of $3.54 for a similar interval.
AAA attributes the rise to a number of contributing elements, together with ongoing refinery upkeep and the transition to dearer summer-blend gasoline. One month in the past, the nationwide common stood at $3.09.
Provide and Demand Traits
Knowledge from the Vitality Data Administration (EIA) reveals a lower in gasoline demand, falling from 8.64 million barrels per day to eight.49 million barrels per day over the previous week. Throughout the identical interval, complete home gasoline provide dropped from 239.1 million barrels to 237.6 million barrels. Nevertheless, gasoline manufacturing rose, averaging 9.3 million barrels per day.
On the crude oil aspect, West Texas Intermediate (WTI) crude rose by 51 cents on the shut of Wednesday’s formal buying and selling session, settling at $71.71 per barrel. The EIA reported a 6.2 million barrel enhance in crude oil inventories from the earlier week, bringing the full to 439.8 million barrels. Regardless of the rise, inventories are nonetheless about 4% beneath the five-year common for this time of yr.
EV Charging Prices Maintain Regular
For electrical car house owners, the nationwide common price per kilowatt hour of electrical energy at public EV charging stations remained unchanged from the earlier week at 34 cents.
State-by-State Value Comparisons
California stays the costliest marketplace for gasoline, with a median value of $4.91 per gallon, adopted by Hawaii ($4.52), Washington ($4.30), Nevada ($3.99), and Oregon ($3.93). Rounding out the highest ten are Alaska ($3.53), Illinois ($3.52), Arizona ($3.42), Idaho ($3.38), and Pennsylvania ($3.37).
The least costly markets for gasoline are Mississippi ($2.74), Tennessee ($2.80), Oklahoma ($2.81), Louisiana ($2.82), and Alabama ($2.85). Additionally among the many lowest are Texas, Arkansas, and Kansas (every at $2.87), South Carolina ($2.87), and Kentucky ($2.89).
When it comes to EV charging, Hawaii continues to steer with the best common price at 56 cents per kilowatt hour, adopted by West Virginia (46 cents), Montana (44 cents), Tennessee (42 cents), and South Carolina (42 cents). Different high-cost states embody Idaho, Alaska, Kentucky, Louisiana, and New Hampshire, all ranging between 40 and 42 cents.
The states with the bottom EV charging charges are Kansas (22 cents), Missouri (25 cents), Iowa and North Dakota (26 cents every), and Nebraska and Delaware (27 cents every). Texas, Washington, DC, Utah, and Maryland all report a median of 30 cents per kilowatt hour.