In a world where everything seems to be getting worse, two things are getting better: gas price and The best movie about guns. We will focus on gas prices for the purposes of this article, as this is Gasoline Price Tracking. Anyway, the national average price for a gallon of gas is currently at $4.41, according to AAA. It’s a reduction of three cents from yesterday alone.
The lowering the trend has been occurred since the price peaked at $5.02 in mid-June. If you’re wondering what’s driving (heh) the trend, look no further than the huge gas demand. short. AAA reported that new data from the Energy Information Administration (EIA) shows Although demand for gas rose slightly last week to 8.52 million bpd, it was still 800,000 bpd below this time last year.
In fact, these consumption figures are in line with the demand we saw in mid-July 2020 – when Pandemic restrictions were at their peak.
Another thing that points to this low demand idea is that our total domestic stockpiles rose by 3.5 million barrels last week to 228.4 million barrels.
At the same time, crude oil prices also fell.
At the end of Wednesday’s official trading session, WTI dropped $1.96 to $102.26. Crude oil prices have fallen this week as the market continues to fear that weakening demand, which is expected to remain strong throughout the summer, could continue to push prices lower. Additionally, the EIA reported that total domestic crude inventories fell by 500,000 barrels to 426.6 million barrels last week, just 13 million barrels below their mid-July 2021 levels.
All of this leads to the ease we are seeing in pumps. There are currently seven states where the average price of a gallon of gas is at or below $4 a gallon. However, diesel prices are still relatively high. Only two states in the country have average diesel prices below $5 per gallon.
On that note, let’s take a look at the highs and lows of gas prices across the country.
Here are the highest average gas prices in the country in order of highest prices for a typical gallon:
- California – $5.79 Regular Price | $6.01 Middle | $6.15 Premium | $6.60 Diesel
- Hawaii – $5.56 Regular Price | $5.78 Average | $6.01 Premium | $6.14 diesel
- Alaska – $5.26 Regular | $5.52 Average | $5.69 (good) Premium | $5.92 diesel
- Oregon – $5.21 Regular | $5.44 Average | $5.64 Special | $6.26 diesel
- Nevada – $5.19 Regular | $5.45 Average | $5.65 Premium | $5.59 diesel
Here are the country’s lowest average gas prices in order of lowest price per gallon of regular gasoline:
- Texas – $3.92 Regular | $4.33 Middle | $4.65 Premium | $4.89 Diesel
- South Carolina – $3.93 Regular | $4.34 Middle | $4.65 Premium | $5.08 diesel
- Georgia – $3.95 Regular | $4.37 Average | $4.71 Premium | Diesel oil 5.15 USD
- Mississippi – $3.96 Regular | $4.34 Middle | $4.68 Premium | $5.02 diesel
- Alabama – $3.99 Regular | $4.41 Middle | $4.76 Premium | $5.18 Diesel
Enjoy your weekend getaway, or else.
