According to the AAA, the national average for gasoline gallons fell slightly, down one cent from last week to $3.11. The decline is partly due to lower oil prices, but market fluctuations and the seasonal transition to summer grade gasoline could affect pump prices in the coming weeks.
The AAA also said the national average per kilowatt-hour power hour for public EV charging stations remains unchanged at 34 cents.
Fuel supply and demand trends
According to latest Energy Information Administration (EIA), gasoline demand rose from 8.45 million barrels (b/d) last week to 8.87 million b/d. Total domestic gasoline supply fell from 248.3 million barrels to 246.8 million barrels. Meanwhile, gasoline production increased, averagering 9.6 million barrels per day.
As of today, the national average for gasoline gallons is $3.11, reflecting a 2-cent decline from a month ago and a 27-cent decline compared to last year.
Oil Market Update
At the end of the formal trading session on Wednesday, West Texas Intermediate (WTI) crude fell by $1.95 to settle at $66.31 per barrel. The EIA reported an increase of 3.6 million barrels in crude oil inventories from the previous week, increasing total US crude oil inventories to 433.8 million barrels.
Gasoline and electricity prices rankings
Most Expensive Gas Market:
- California: $4.74
- Hawaii: $4.54
- Washington: $4.11
- Nevada: $3.79
- Oregon: $3.73
- Alaska: $3.43
- Arizona: $3.38
- Pennsylvania: $3.28
- Illinois: $3.21
- Washington DC: $3.21
The cheapest gas market:
- Mississippi: $2.64
- Kentucky: $2.69
- South Carolina: $2.70
- Tennessee: $2.71
- Louisiana: $2.71
- Texas: $2.73
- Alabama: $2.74
- Oklahoma: $2.76
- North Carolina: $2.76
- Arkansas: $2.77
Electrical costs at public charging stations
Most expensive states (per kWh) for public EV charging:
- Hawaii: 56 cents
- West Virginia: 47 cents
- Montana: 45 cents
- Idaho: 42 cents
- Tennessee: 42 cents
- Arkansas: 42 cents
- New Hampshire: 42 Cent
- South Carolina: 42 cents
- Kentucky: 41 cents
- Alaska: 41 cents
The cheapest state for public EV charging (per kWh):
- Kansas: 22 cents
- Maryland: 25 cents
- Missouri: 25 cents
- Nebraska: 26 cents
- Delaware: 29 cents
- Iowa: 29 cents
- Michigan: 29 cents
- Utah: 29 cents
- Texas: 30 cents
- North Dakota: 31 cents
Due to fluctuations in crude oil prices and the seasonal transition to summer grade gasoline, fuel costs may vary in the coming weeks.
