Gasoline Drops to $1.92

The national average gasoline price reached $1.92, as demand for gasoline registered its lowest point since 1993.

Current prices are 81 cents less expensive than a year ago and will likely push lower as Americans remain isolated for the foreseeable future as a result of COVID-19, said AAA. The latest Energy Information Administration (EIA) weekly report puts demand at 6.7 million barrels per day, a 30-year low.

“This week, market analysts are watching crude oil prices, which started to increase at the end of last week,” said Jeanette Casselano, AAA spokesperson. “However, given the low demand readings, increases in crude aren’t likely to have an impact on gas prices in the near-term.”

The nation’s largest weekly decreases include Wisconsin (down 16 cents), Vermont (down 15 cents), Idaho (down 14 cents), Alaska (down 12 cents), Iowa (down 12 cents), Kentucky (down 11 cents), Arkansas (down 10 cents), Ohio (down 10 cents), Michigan (down 10 cents) and Arizona (down 10 cents).

The nation’s least expensive markets include Wisconsin ($1.43), Oklahoma ($1.47), Ohio ($1.55), Kentucky ($1.58), Michigan ($1.61), Indiana ($1.62), Mississippi ($1.63), Arkansas ($1.64), Texas ($1.65) and Iowa ($1.66).