It has to be a dubious honor. Being the state with the highest gasoline prices has been one of California’s crowning distinctions. But no more. According to AAA, California has dropped to the number 2 position for highest gas prices, second only to Hawaii. That’s one highlight from AAA’s latest fuel pump declaration.
Fuel prices cool down
The national average for a gallon of gas dipped by two cents since last week to $3.13. Low oil costs and tepid domestic gasoline demand are the primary reasons.
A AAA release notes that fuel prices have cooled. “After the brief interruption caused by Hurricanes Helene and Milton, gas prices have resumed their gradual season decline,” said Andrew Gross, AAA spokesperson. “We are only about seven cents away from the national average’s 2024 low, and it will likely keep rolling and fall below $3 soon.”
According to new data from the Energy Information Administration (EIA), gas demand rose slightly from 8.83 million barrels per day last week to 9.15. Meanwhile, total domestic gasoline stocks fell from 213.6 million barrels to 210.9, while gasoline production decreased last week, averaging 9.7 million barrels daily.
Today’s national average for a gallon of gas is $3.13, eight cents less than a month ago and 34 cents less than a year ago.
Oil market dynamics
At the close of Wednesday’s formal trading session, WTI (West Texas Intermediate) rose by $1.40 to settle at $68.61 a barrel. The EIA reports that crude oil inventories decreased by 0.5 million barrels from the previous week. At 425.5 million barrels, U.S. crude oil inventories are about 4% below the five-year average for this time of year.
Quick gas stats show fuel prices cool
The nation’s top 10 most expensive gasoline markets are Hawaii ($4.59), California ($4.56), Washington ($4.03), Nevada ($3.80), Oregon ($3.62), Alaska ($3.59), Utah ($3.34), Idaho ($3.34), Pennsylvania ($3.32), and Illinois ($3.31).
The nation’s top 10 least expensive gasoline markets are Texas ($2.68), Mississippi ($2.69), Oklahoma ($2.70), Tennessee ($2.74), Louisiana ($2.77), Missouri ($2.77), Arkansas ($2.78), Kansas ($2.78), Kentucky ($2.78), and Alabama ($2.80).
##RVT1181b
Man, you had to go and publish this, now the CA legislators and CARB will put in another set of taxes and regulations to top Hawaii. In fact, CARB is going to vote on the “Low Carbon Fuel Standard” on the 8th and that will add 45 to 65 cents a gallon to gas and diesel.
Enjoy it while you can, Lyn.😉 Have a good evening. 😀 –Diane at RVtravel.com
Yep! After the election so there’s no real consequences to the electees and those already elected..🤐
(sorry for the politics..)
The vote is purely symbolic Lyn. The math shows the debt, the LCFS is the near term “financial solution” that appointed (not voted) regulators will enact. It will be introduced in phases to make it appear palatable but it’s coming and not a single politician expecting a paycheck will stop it. Entitlements have costs.
Oh the vote matters…drill baby drill and bye bye regulators 🇺🇸
Biggest lie from oil and gas companies…” we do not manipulate gas prices”. Bee..Ess..
Governments also manipulate gas prices when they terminate the most productive oil leases, and terminate productive pipelines
Drill baby drill
Your just being silly JB. All companies, gas, oil or otherwise adjust prices. It is not manipulation, it is a response to the market conditions including regulations, inventories, projections, etc. Just silly self victimization JB. They are not your enemy and are not out to get you. Just like Firestone, they produce and sell a product line.
When McDonalds ups the price of a Big Mac, is it market manipulation? When Safeway ups the price of Eggs, is it market manipulation?
Well said CP!
Today, Florida Panhandle $2.79, Alabama $2.59.
We in Canada generally have higher prices than our southern neighbors, however I just came back from Germany where we paid 1.70 Euro per litre.
Let me work that out for you at current exchange rates.
$7.01 USD/Gallon
$2.57 CDN/Litre
Mind you that after two weeks there I never saw a truck larger than a F150, zero 5th wheel RV’s, or any obesely sized SUV’s. People will adapt as prices increase.
We should remember that we are truly lucky in North America with our energy prices!
I live in a very rural family-owned farming community in Colorado…how are farmers suppose to “adapt” to rising fuel costs…you can’t farm with a Prius or a bicycle…
Lucky? Instead of adapting our pain tolerance levels as you suggest, why not adapt our polices and be even “luckier” as you also suggest we are?
Gas is $2.59 a gallon in central ill
I-29N of Fargo – Harwood ND $2.75.9 yesterday.
Respectfully, it would have been helpful to date the yearly/monthly graph back to late 2019
Hi, D. Well, you’ll have to ask AAA about that, since they put the graph together. But that would be interesting to see. Have a great day. 😀 –Diane at RVtravel.com
Farmers tractor runs out of fuel, just bring out a bucket of electricity!!!
Exactly!
I’m in Punta Gorda, S/W Florida and I’m not sure what the driving force is, but diesel went up 15 cents from Friday at 12:30 pm to Saturday at 9:30 am. No hurricanes or snow storms!!
…just an election…hmmmm
How about a graph for diesel fuel? Seems everyone can report on the price of gas but nobody talks about diesel fuel!
Exactly! …diesel prices directly affect supply demand
If anyone is interested in tracking monthly gas prices going all the way back to 1990, here’s a chart from the Energy Information Administration (“eia” cited in the article). You can look for the “election year” price drops and come to your own conclusions if they exist, or not. Same for when the fed set policies favorable to EV’s while simultaneously setting policies making operating an ICE even more expensive. Where I come from that’s described as social engineering. The administrations of 44 and 46 come to immediate mind:
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=EMM_EPMR_PTE_NUS_DPG&f=M
Now THIS is the gas price report that should be in every one of your RV Travel News Letters.
To change subject, I bought one of those adjustable filter wrenches. Almost better than sliced bread. Great tool, bought at local auto store.
Thank you, Russ and Tina! Well, I see that I likely did not do too badly in not buying gasoline in Tennessee before we left for Kentucky last week. Instead, I bought it after we reached Kentucky. 🙂 Have a great week and safe travels!