Demand is up while gas prices stay low

WALNUT CREEK, Calif. — With summer road trips in full swing, drivers are getting a break at the pump, as gas prices match July 2021 numbers. 

The national average for a gallon of gas dipped as low as $3.14 this past week before going up a few cents to $3.17. It’s been four years since the national average has been this low during the summer. 

This season’s lower pump prices are due to an abundance of supply in the oil market. 

This week, California drivers will find an average price of $4.53 a gallon, a 3 cent drop from last week.

Fuel prices around the state: 

Lake County: $4.57
San Francisco: $4.74
Oakland: $4.60
San Jose: $4.55
Sacramento: $4.49
Fresno: $4.58
Stockton: $4.38

Oil market dynamics

At the close of Wednesday’s formal trading session, WTI increased 5 cents to settle at $68.38 a barrel. 

The EIA reports that crude oil inventories increased by 7.1 million barrels from the previous week. At 426 million barrels, U.S. crude oil inventories are about 8% 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 ($4.53), Hawaii ($4.47), Washington ($4.40), Oregon ($4.01), Nevada ($3.76), Alaska ($3.73), Idaho ($3.47), Illinois ($3.46), Washington, DC ($3.33), and Utah ($3.32).

The nation's top 10 least expensive gasoline markets are Mississippi ($2.71), Alabama ($2.79), Louisiana ($2.79), Oklahoma ($2.79), Texas ($2.80), Tennessee ($2.82), Arkansas ($2.82), South Carolina ($2.83), Missouri ($2.86), and Kentucky ($2.87).

Electric

The nation’s top 10 most expensive states for public charging per kilowatt hour are West Virginia (51 cents), Alaska (50 cents), Tennessee (46 cents), Hawaii (46 cents), Montana (45 cents), South Carolina (44 cents), New Hampshire (43 cents), Wisconsin (42 cents), Alabama (42 cents), and Arkansas (42 cents).

The nation’s top 10 least expensive states for public charging per kilowatt hour are Kansas (25 cents), Missouri (27 cents), Maryland (28 cents), Utah (28 cents), Nebraska (30 cents), Delaware (31 cents), Colorado (33 cents), North Carolina (33 cents), Washington, DC (33 cents), and Iowa (33 cents)

Drivers can find current gas and electric charging prices along their route using the AAA Mobile App, now available on CarPlay.

Find current fuel prices at gasprices.aaa.com

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