When the Eagles sang about “life in the fast lane,” back in 1977, they weren’t singing about gas prices. If anything, gas prices are decidedly in the slow lane. Winter gas prices will lie low, prognosticate the gas price prophets at AAA. The national average for a gallon of gas barely budged since last week, falling two cents to $3.07.
“Mid-winter blahs” mean winter gas prices will lie low
“I wouldn’t bet the farm on the national average reaching $3 a gallon, even if we are tantalizingly close,” said Andrew Gross, AAA spokesperson. “The mid-winter blahs will likely keep pump prices waffling a few cents up and down for the immediate future. But keep an eye on frigid temps because those can affect refinery production, pushing some regional pump prices higher.”
While winter gas prices will lie low, here’s where they are right now. The Energy Information Administration (EIA), says gas demand increased from 7.95 to 8.33 million barrels per day last week. Meanwhile, total domestic gasoline stocks increased significantly by 8 million barrels to 245 million barrels. The slight uptick in demand has limited pump price drops, causing the national average to stagnate. However, if oil prices continue to drop, drivers could continue to see pump prices trickle lower.
Today’s national average of $3.07 is 8 cents less than a month ago and 19 cents less than a year ago.
Your gas by the numbers
Since last Thursday, these 10 states have seen the largest changes in their averages: Indiana (+14 cents), Ohio (+13 cents), Arizona (−11 cents), Florida (+10 cents), California (−10 cents), Nevada (−9 cents), Colorado (−9 cents), Michigan (+8 cents), Oregon (−8 cents) and New Mexico (−8 cents).
The nation’s top 10 least expensive markets: Oklahoma ($2.59), Arkansas ($2.62), Missouri ($2.63), Mississippi ($2.66), Wisconsin ($2.66), Kansas ($2.67), Texas ($2.67), Colorado ($2.70), Louisiana ($2.74) and Tennessee ($2.75).
##RVT1139b
Thank you, Russ and Tina! Safe travels! 🙂
$2.719 yesterday, Exit 142, Interstate 10, Florida Panhandle.
$3.19 and higher in Central Florida!
It is interesting there are only two comments when gas prices continue to decline, yet there are thousands when the price increases.
It might because they are still 60% higher than 5 years ago, but I do agree with the premise of your comment. Human nature seems to be one of being consumed with negetive and being willfully silent on the positive. Not that the current prices are good, but they are little bit better.
Ron, I am not sure where you are from but in Florida, we are up over 30 cents per gallon in the last couple of months! Gas is not going down here. One more little tidbit for you, our federal gas reserves are low. Drilling is at an all time low. The time will come that you will look back on your comment and realize you were wrong for saying it.
Drilling is not at an all time low. Per Forbes, annual oil production set a record in December. https://www.forbes.com/sites/rrapier/2023/12/15/us-producers-have-broken-the-annual-oil-production-record/?sh=c3c25586cc67
You are correct Warren. However, the drilling that is happening is on leases from 5-10 years ago, that have been in the R&D phases for the past few years. The problem will become more apparent in the next few years when the lack of leases the past 3 years should be coming on line for production. Oil is our economy and as such, inventory is measured in the ground, not in the tanks. Oil prices will rise dramatically in a couple of years due to low inventory on very few leases. What we do today with leases affects us tomorrow. Years of R&D go into a lease before a drill bit starts to spin….
Don’t gas up in Washington state. The government robs you of an extra $1.00 a gallon, at minimum. And our potholes are pretending to be highways.
This article is BS! In Florida, our gas prices have gone up over $.30 a Gallon over the last couple of months!