The average national price for gasoline is at its highest in 10 months, reaching $2.31, inching up six cents after keeping steady through the end of 2020, according to AAA.
The average is 16 cents more than a month ago, but still cheaper than last year by 27 cents.
Pump prices have increased despite gas demand falling from 8.1 million barrels per day to 7.4 million per day — the lowest level recorded since the end of May 2020, according to the Energy Information Administration’s (EIA) latest weekly report.
“Gas prices are rising as supply tightens and crude oil gets more expensive. Decreasing demand is outweighed by these other factors at the moment,” said Jeanette Casselano McGee, AAA spokesperson. “Last week crude oil pushed to the highest price since before the pandemic. If crude prices remain high, Americans can expect to pay more at the pump this month.”
On the week, all state gas price averages are more expensive with nearly 30 state averages increasing by at least a nickel.
The nation’s top 10 largest weekly increases include West Virginia (up 17 cents), New Mexico (up 11 cents), Florida (up 10 cents), Kentucky (up 9 cents), Tennessee (up 9 cents), South Carolina (up 9 cents), Arkansas (up 8 cents), North Carolina (up 8 cents), Missouri (up 8 cents) and Ohio (up 8 cents).
The nation’s top 10 least expensive markets were: Mississippi ($1.99), Texas ($2.01), Louisiana ($2.02), Missouri ($2.03), Oklahoma ($2.03), Kansas ($2.06), Arkansas ($2.07), Alabama ($2.08), South Carolina ($2.10) and Tennessee ($2.13).
See all comments