After weeks of little movement, the national average for a gallon of gas increased by about four cents since last week to $3.12.
California drivers will find an average price of $4.62, a two cent drop from last week.
Even though the price of crude oil remains below $70 a barrel, prices at the pump are going up as more refineries make the seasonal switch to summer-blend gasoline.
“Summer-blend gas is less likely to evaporate in warmer temperatures and is more expensive to produce.” says Doug Johnson with AAA Northern California.
Fuel prices around the state:
San Francisco: $4.80
Oakland: $4.76
San Jose: $4.71
Sacramento: $4.67
Fresno: $4.62
Stockton: $4.48
Oil Market Dynamics
At the close of Wednesday’s formal trading session, WTI rose 26 cents to settle at $67.16 a barrel.
The EIA reports that crude oil inventories increased by 1.7 million barrels from the previous week.
At 437.0 million barrels, U.S. crude oil inventories are about 5% below the five-year average for this time of year.
Quick gas and electricity stats
Gas
The nation’s top 10 most expensive gasoline markets are California ($4.64), Hawaii ($4.53), Washington ($4.09), Nevada ($3.74), Oregon ($3.73), Alaska ($3.39), Illinois ($3.38), Arizona ($3.34), Idaho ($3.26), and Pennsylvania ($3.22).
The nation's top 10 least expensive gasoline markets are Mississippi ($2.66), Oklahoma ($2.69), Kentucky ($2.69), Tennessee ($2.69), Louisiana ($2.73), Alabama ($2.74), Texas ($2.76), Arkansas ($2.76), South Carolina ($2.78), and Kansas ($2.80).
Electric
The nation’s top 10 most expensive states for public charging per kilowatt hour are Hawaii (56 cents), West Virginia (46 cents), Montana (45 cents), South Carolina (42 cents), Tennessee (42 cents), Idaho (42 cents), Alaska (41 cents), Kentucky (40 cents), New Hampshire (40 cents), and Louisiana (39 cents).
The nation’s top 10 least expensive states for public charging per kilowatt hour are Kansas (22 cents), Missouri (25 cents), Nebraska (26 cents), Iowa (26 cents), North Dakota (26 cents), Delaware (27 cents), Michigan (29 cents), Texas (39 cents), Utah (29 cents), and Washington, DC (30 cents).
Gas prices make a u-turn and head uphill
- AAA