Gasoline Prices Flat at $2.27
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The national average price of a gallon of gasoline remained flat at $2.27 for the week ending Feb. 2, but the floor is rising. Drivers are paying 52 cents more than a year ago, which is five cents higher than a week ago, according to AAA.
Gasoline is 10 cents lower than a week ago, but pump prices have been pressured higher overall due to cuts in oil production around the globe. An increase in U.S. production in the past few weeks has stablized rising prices.
U.S. gasoline demand fell 6% in January from the same month in 2016 and has reached the lowest January level since 2012, according to the U.S. Energy Information Administration (EIA).
The nation’s top five most expense markets are: Hawaii (3.11), California ($2.83), Washington ($2.73), Alaska ($2.72) and the District of Colombia ($2.55).
The nation’s top five least expensive markets are: South Carolina ($2.03), Alabama ($2.06), Tennessee ($2.06), Ohio ($2.07) and Mississippi ($2.07).
The top five markets with the most dramatic year-over-year increases in gas prices include: Minnesota (71 cents), Michigan (68 cents), New Jersey (67 cents), Illinois (67 cents) and Kansas (66 cents).
Meanwhile, diesel prices have fallen four-tenths of a cent to $2.558. A diesel gallon is 55 cents higher than it was a year ago, reports the EIA.