WASHINGTON, D.C. (February 6, 2025)—Amid the threat of tariffs, the national average for a gallon of gas ticked up two cents from last week to $3.13. That’s 7 cents more than a month ago and one cent less than a year ago.
The national average per kilowatt hour of electricity at a public EV charging station stayed the same, at 34 cents.
According to new data from the Energy Information Administration (EIA), gasoline demand increased from 8.30 million b/d last week to 8.32. Total domestic gasoline supply rose from 248.9 million barrels to 251.1, while gasoline production decreased last week, averaging 9.2 million barrels per day.
Oil Market Dynamics
At the close of Wednesday’s formal trading session, WTI dropped $1.67 to settle at $71.03 a barrel. The EIA reports that crude oil inventories increased by 8.7 million barrels from the previous week. At 423.8 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 Hawaii ($4.55), California ($4.52), Washington ($3.99), Nevada ($3.71), Oregon ($3.62), Pennsylvania ($3.36), Alaska ($3.33), Arizona ($3.26) Washington, D.C. ($3.26), and Illinois ($3.26).
The nation’s top 10 least expensive gasoline markets are Mississippi ($2.68), Texas ($2.74), Louisiana ($2.77), Oklahoma ($2.77), Tennessee ($2.78), Arkansas ($2.80), Kentucky ($2.81), Alabama ($2.82), Kansas ($2.83), and Missouri ($2.85).
Electric
The nation’s top 10 most expensive states for public charging per kilowatt hour are Hawaii (55 cents), West Virginia (47 cents), Montana (44 cents), Tennessee (42 cents), Idaho (42 cents), New Hampshire (42 cents), Arkansas (42 cents), Kentucky (41 cents), South Carolina (41 cents), and Alaska (41 cents).
The nation’s top 10 least expensive states for public charging per kilowatt hour are Kansas (22 cents), Nebraska (25 cents), Missouri (25 cents), Maryland (26 cents), Delaware (27 cents), Iowa (28 cents), Texas (28 cents), Utah (29 cents), Michigan (30 cents), and North Dakota (30 cents).
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Yeah, so oil is down about $5.50/barrel year over year. Oil is also down about $5.50/barrel since January 20th thru today…..coincidence? Because gasoline prices would be a lagging indicator, the 7% decrease in oil price should be reflected in the year over year gas prices in another month or so but don’t get caught up in the monthly or quarterly comparisons that will most certainly be illustrated to show it’s up in June of 2025 compared to January. Resist the false narratives. June v. June, March v. March. October v. October.
My gasoline price for regular was up .15 a gallon from a week an a half ago…yay California!!
Me too. Up about 7 cents last week.
No bull…the Democrat hater corporations have brought down oil prices to make the current unworthy occupant of the WH look good…after making the last one look bad…not rocket science.
Vast right wing conspiracy huh?
Thank you for the price information, RV Travel! Looks as though our spring and summer travels are going to be a mini-tour of the most expensive gasoline-price states (and DC). We’ll buy gasoline in some and diesel in others. With a 90-gallon diesel tank, I’ll try to be a bit strategic in the volumes I buy and where I buy them. Have a great weekend and safe travels!
While I agree with the price indicated in this article for Pa. I can never understand why yesterday I paid $2.99 a gallon for gas and passed another station with the same price. For some reason within a hundred miles of where I live most gas stations gas is high. But there are pockets where gas is .20 to .30 a gallon cheaper.