Gasoline Prices Fall to $2.33 Per Gallon
Photo by Vince Taroc.
The national price of a gallon of regular unleaded fell 2 cents to $2.33 for the week of Aug. 21 as fuel prices rose on the West Coast and Rockies, and fell in the Midwest, East Coast, and South, reports AAA.
The average price is 5 cents higher than a month ago and 17 cents more expensive than a year ago.
Growth in gasoline production combined with record-breaking high refinery runs continue to drive the country’s already relatively high gasoline inventories even higher. The Energy Information Administration (EIA) reports that despite growing domestic and foreign demand, today’s national gasoline inventory levels sit at 231 million barrels and remain higher than the previous five-year average.
States with the largest weekly changes include Indiana (down 10 cents), Oregon (up 10 cents), Ohio (down 9 cents), Michigan (down 8 cents), Idaho (up 7 cents), Illinois (down 5 cents), Utah (up 5 cents), Washington (up 5 cents), Kansas (down 4 cents) and Nebraska (down 4 cents).
States with the least expensive gasoline include South Carolina ($2.06), Alabama ($2.09), Mississippi ($2.09), Oklahoma ($2.10), Arkansas ($2.10), Texas ($2.14), Tennessee ($2.14), Virginia ($2.14), Missouri ($2.14), and Louisiana ($2.15).
Meanwhile, the average price of a gallon of diesel fell two-tenths of a cent to $2.596, which is 22.6 cents lower than a year ago.