Gasoline Prices Remain Steady as Demand Jumps

The national average price of regular unleaded remained at $2.60 for the week ending Nov.4, even though driving demand moved sharply higher and gasoline supply fell, according to AAA.

"Gas prices continue to fluctuate across the country, though on the week the majority of states saw prices only increase or decrease by one or two cents," said Jeanette Casselano, AAA spokesperson. "The largest volatility at the pump continues to be seen in the West Coast and Rockies states along with a handful of states in the Great Lakes and Central region."

The Nov. 4 average is 6 cents lower than a month ago and 16 cents cheaper than a year ago.

States with the largest weekly changes include Michigan (down 9 cents), Ohio (up 8 cents), Idaho (up 7 cents), Illinois (down 5 cents), Utah (up 5 cents), Indiana (up 5 cents), Florida (up 4 cents), Kentucky (up 4 cents), Georgia (up 4 cents), and Delaware (up 4 cents).

States that now have the cheapest gasoline include Louisiana ($2.22), Mississippi ($2.22), Texas ($2.24), South Carolina ($2.26), Missouri ($2.27), Alabama ($2.27), Virginia ($2.29), Arkansas ($2.30), Oklahoma ($2.30), and Tennessee ($2.30).

Crude oil prices jumped on Friday but remained lower for the week. The per-barrel price ended the week at $56.20. Crude inventories increased by 5.7 barrels to 438.9 million barrels during the week. The current level is 12.8 million barrels higher than last year's total at this time, according to the U.S. Energy Information Administration.

Meanwhile, the average price of diesel remained essentially flat at $2.605, which is 14.8 cents cheaper than a year ago, according to the administration.