The national average gasoline price could move lower in the short term, driven by higher supply and colder-than-expected weather.
 - Photo by Vince Taroc.

The national average gasoline price could move lower in the short term, driven by higher supply and colder-than-expected weather.

Photo by Vince Taroc.

The national average price of a gallon of unleaded has begun to inch higher with a 1-cent increase to $2.26 during the week ending Jan. 28, according to AAA.

The average price in nearly 25 states increased on the week during which higher gasoline supply and colder weather in certain areas of the country may presage lower gasoline prices in the short term.

"With gasoline stocks sitting at their highest level on record — 259.1 million barrels — coupled with colder-than-normal weather forecasted for much of the Midwest and East Coast, motorists are likely to see demand drop and gas prices decrease or hold steady this week," said Jeanette Casselano, AAA spokesperson.

The current price level is 3 cents cheaper than a month ago and 33 cents lower than a year ago.

States with the largest weekly changes include Ohio (up 10 cents), Michigan (up 9 cents), Indiana (up 8 cents), Georgia (up 7 cents), Texas (up 5 cents), North Carolina (up 5 cents), Alabama (up 5 cents), Alaska (down 5 cents), Utah (down 5 cents), and Tennessee (up 4 cents).

States with the least expensive gasoline include Missouri ($1.91), Oklahoma ($1.93), Arkansas ($1.94), Kansas ($1.97), Mississippi ($1.97), Louisiana ($1.99), Texas ($1.99), Alabama ($1.99), South Carolina ($2.01), and Tennessee ($2.05).

Meanwhile, the average price for a gallon of diesel fuel remained flat at $2.965 per gallon, which is 10.5 cents lower than a year ago, according to the U.S. Energy Information Administration.

0 Comments