The national average price of gasoline increased 2 cents to $2.28 per gallon during the week ending Feb. 11, which also saw at least a 10-cent increase in several states, according to AAA.
Demand fell almost 500,000 barrels per day to 9 million barrels, which is the level it reached a year ago, according to the U.S. Energey Information Administration. Gasoline stocks saw a nominal increase of 513,000 barrels for a total of 257.8 million barrels. Demand remains flat with total stocks at 124 million barrels.
"Since the beginning of the year, crude oil remains relatively cheap, moving between $51 to $55 per barrel," said Jeanette Casselano, AAA spokesperson. "This, coupled with fluctuating gasoline stocks due to planned and unplanned maintenance at refineries as well as instability in demand, likely due to frigid temperatures, are all contributing toward movement at retail pumps across the country."
The national price is 4 cents higher than a month ago and 30 cents less expensive than a year ago.
States with the least expensive markets include Arkansas ($1.96), Mississippi ($1.96), Alabama ($1.97), Texas ($1.97), Missouri ($1.99), Louisiana ($1.99), Oklahoma ($1.99), South Carolina ($1.99), Kansas ($2), and Colorado ($2.01).
States with the largest weekly changes include Michigan (up 13 cents), Illinois (up 9 cents), Missouri (up 9 cents), Wisconsin (up 7 cents), New Mexico (up 6 cents), Iowa (up 6 cents), Ohio (up 6 cents), Utah (down 6 cents), Indiana (up 5 cents), and Minnesota (up 5 cents).
Meanwhile, the average price of diesel was unchanged from a week ago at $2.966 per gallon, which is 9.7 cents lower than a year ago.