Everyone, I come with very good news. Gas prices continues its downtrend. Follow AAA gas price tracker. That’s $1.26 per gallon down since the price peaked in the middleJune this year.
Diesel prices are also being fixed! The price of a gallon of diesel currently stands at $5.05/gallon. That’s 77 cents/gallon down from the record high set during the same period in mid-June.
Part of that discount can be traced back to storm season as well as lower overall gasoline demand.
“According to weather analysts, this is the first time in 25 years that a named Atlantic hurricane has not developed in August. That’s good news,” said Andrew Gross, AAA spokesman, said. “REMOVEWe’re still one month away from peak hurricane season, and these storms could affect gas prices by disrupting production and refining. ”
“[O]Prices fell on China’s recent lackluster manufacturing output due to lower commodity demand and new COVID-19 outbreaks in key industrial cities. This raised concerns that oil demand could fall in China, the world’s largest crude oil importer.
Domestic gas demand rose slightly from 8.43 million bpd to 8.59 million bpd last week, according to data from the Energy Information Administration (EIA). However, this rate is nearly 1 million barrels per day lower than in the last week of August 2021. At the same time, total domestic gasoline stocks fell by 1.1 million barrels to 214.5 million barrels. Despite increased gasoline demand and tight supply, falling oil prices led to lower pump prices. If oil prices continue to fall, drivers will likely continue to see pump prices fall further.
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So, let’s keep hoping the hurricane season stays quiet… not because of the danger to life and property, but for gas prices.
Anyway, let’s take a look at prices around the country.
Here are the highest average gas prices in the country in order of highest price for a gallon regular:
- Hawaii – $5.30 Regular | $5.51 Mid | $5.76 Premium | $6.10 Diesel
- California – $5.28 Regular | $5.48 Mid | $5.63 Premium | $6.32 Diesel
- Nevada – $4.83 Regular | $5.07 Mid | $5.28 Premium | $5.23 Diesel
- Alaska – $4.74 Regular | $4.94 Mid | $5.14 Premium | $5.26 Diesel
- Oregon – $4.71 Regular | $4.92 Mid | $5.13 Premium | $5.60 Diesel
Here is the lowest average price of gasoline in the country in order of lowest price per gallon of regular:
- Texas – $3.23 Regular | $3.62 Mid | $4.94 Premium | $4.65 Diesel
- Arkansas – $3.24 Regular | $3.60 Mid | $3.92 Premium | $4.75 Diesel
- Mississippi – $3.25 Regular | $3.61 Mid | $3.96 Premium | $4.65 Diesel
- Louisiana – $3.29 Regular | $3.66 Mid | $4.02 Premium | $4.66 Diesel
- Georgia – $3.31 Regular | $3.71 Mid | $4.07 Premium | $4.72 Diesel
I’m all gassed up.
