From fleet managers to everyday commuters, constantly juggling expenses and productivity is a daily preoccupation. Of these expenses, fuel and its frequently changing costs is a factor that exerts a substantial influence on any budget.
This is why it’s so vital to be aware of changes in fuel prices.
October 2023 Gasoline Price Updates
Looking at gasoline prices for October 2023, national average prices hit $3.42 as of November 6, 2023. Some top highlights include:
- Georgia has the cheapest gas in the U.S. with an average cost of $2.96 per gallon.
- Mississippi is in second for both cheapest gas ($2.97) and diesel ($3.98).
- Texas is in third at $2.97, but does place first for cheapest diesel at $3.95.
- The most expensive gas and diesel in the U.S belongs to California at $5.23 and $6.12 respectively, almost twice what it costs in Georgia and Mississippi.
- Texas and Mississippi are the only states in the Top 10 to have diesel prices lower than $4.
According to the Energy Information Administration, gas prices have also lowered year-over-year by $0.27 per gallon, while diesel prices have lowered by $0.86. In addition, the U.S. is also producing more oil than last year at 12.92 million barrels per day.
The EIA has also explained that though the effects of the recent conflict between Israel and Hamas have not been evident yet, it has the potential to drastically change the oil market, including supply disruptions, prices, and demand.