Gasoline prices across the United States have remained steady over the past week, with the national average for a gallon of gas maintaining at $3.16. Similarly, the price per kilowatt hour for electricity at public EV charging stations has stabilized at 34 cents.
Trends in Gasoline Supply and Demand
Recent data from the Energy Information Administration (EIA) indicates a decrease in gasoline demand, dropping from 8.57 million barrels per day (b/d) to 8.23 million b/d. Domestic gasoline supply also slightly fell from 248.1 million barrels to 247.9 million barrels. On average, gasoline production is reported at 9.2 million barrels per day. The current national gas average is 4 cents higher than it was a month ago but 11 cents lower than the same time last year.
Overview of the Oil Market
Crude oil prices experienced a modest rise, with West Texas Intermediate (WTI) increasing by 40 cents to settle at $72.25 per barrel. In addition, crude oil inventories expanded by 4.6 million barrels, bringing total U.S. crude oil stockpiles to 432.5 million barrels, which is approximately 3% under the five-year average for this period.
Cost Analysis of Gasoline Across States
Top 10 Most Expensive Gas Markets:
- California – $4.84
- Hawaii – $4.55
- Washington – $4.14
- Nevada – $3.87
- Oregon – $3.77
- Alaska – $3.45
- Arizona – $3.41
- Pennsylvania – $3.36
- Illinois – $3.27
- Washington, D.C. – $3.25
Top 10 Least Expensive Gas Markets:
- Mississippi – $2.67
- Louisiana – $2.75
- Tennessee – $2.76
- Texas – $2.76
- Oklahoma – $2.78
- Kentucky – $2.78
- Alabama – $2.79
- Arkansas – $2.82
- Kansas – $2.83
- Missouri – $2.84
Electric Vehicle Charging Costs
Top 10 Most Expensive States for Public Charging (Per kWh):
- Hawaii – 55 cents
- West Virginia – 47 cents
- Montana – 44 cents
- Idaho – 42 cents
- Tennessee – 42 cents
- Arkansas – 42 cents
- New Hampshire – 42 cents
- Kentucky – 41 cents
- Alaska – 41 cents
- South Carolina – 41 cents
Top 10 Least Expensive States for Public Charging (Per kWh):
- Kansas – 22 cents
- Nebraska – 25 cents
- Maryland – 25 cents
- Missouri – 25 cents
- Iowa – 28 cents
- Texas – 29 cents
- Utah – 29 cents
- Michigan – 29 cents
- North Dakota – 30 cents
- South Dakota – 31 cents
