AAA reported on March 26 that the national average price of a gallon of regular gasoline was up 10 cents from the previous week and one dollar from last month.
The graph below shows the steep rise from $2.98 on February 26 to $3.98 today. Crude oil prices remain high as the Iran conflict nears the 4-week mark. The national average could reach $4 a gallon in the coming days for the first time since August 2022.
Gasoline demand is also on the rise as spring break season continues, another factor in rising pump prices.
According to new data from the Energy Information Administration (EIA), gasoline demand increased last week from 8.72 million barrels per day to 8.92 million. Total domestic gasoline supply decreased from 244 million barrels to 241.4 million. Gasoline production increased last week, averaging 9.7 million barrels per day.
Oil market dynamics
At the close of Wednesday’s formal trading session, WTI (a high-quality, light and sweet grade of crude oil used as a primary benchmark for pricing oil in the United States) fell $2.03 to settle at $90.32 a barrel. The EIA reports crude oil inventories increased by 6.9 million barrels from the previous week. At 456.2 million barrels, U.S. crude oil inventories are about 0.1% above the five-year average for this time of year.
State statistics
Gasoline
The nation’s top 10 most expensive gasoline markets are California ($5.84), Hawaii ($5.33), Washington ($5.30), Nevada ($4.86), Oregon ($4.86), Arizona ($4.63), Alaska ($4.57), Idaho ($4.25), Illinois ($4.23), and Utah ($4.16).
One Los Angeles Chevron station is charging $8.31 for both regular unleaded and diesel. According to the Los Angeles Times, the station on the edge of Chinatown was busy despite the price. Stanford economists estimate the average California household could spend about $857 more on gas from March through December this year.
EV charging
The national average per kilowatt hour of electricity at a public EV charging station stayed the same this past week at 41 cents.
The nation’s top 10 most expensive states for public charging per kilowatt hour are West Virginia (52 cents), Hawaii (51 cents), Alaska (50 cents), New Hampshire (47 cents), Louisiana (47 cents), South Carolina (46 cents), California (46 cents), New Jersey (45 cents), Arkansas (44 cents), and Idaho (43 cents).
The nation’s top 10 least expensive states for public charging per kilowatt hour are Kansas (29 cents), Missouri (32 cents), Utah (32 cents), Nebraska (33 cents), Iowa (34 cents), Maryland (34 cents), Vermont (34 cents), South Dakota (34 cents), Delaware (36 cents), and New Mexico (36 cents).
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RVT1254b
Thank you for the general news, which is consistent with my own observations of gasoline prices in our little part of East Tennessee. Diesel prices also have risen by a noticable amount over the last several days in our little corner of the world. Have a great day and safe travels!
Prices are already starting back down. Speculators are getting out of the oil markets, having gotten their fill (no pun intended).
Eventually prices will return or even be lower than this episode started at.
I will gladly pay $20.00/gal for fuel, for 60 or 90 days, if it means Tehran’s reign of terror and it’s threats to peace on our planet comes to an end. May we never again allow a threat that is no less serious than that of 1938-39 Germany to fester or grow until its too late. May 2026 be the year we stop kicking the can to the next administration and the next and the next.
What will the price if fuel be if Israel gets nuked…. followed by a nuclear retaliation, followed by nuclear retaliation towards the USA, followed by ……?
But hey, that’s just me. Happy trails.
😎✌️
It is nice that someone can see “the big picture.”
Didn’t think much when I bought my F 150 that’s a hybrid. Meaning it can use Alcohol fuel as well as regular gasoline. Normally I don’t use the Alcohol fuel, and it is hard to find gas stations where I live that have it. But at a $1.40-$1.50 less per gallon I have been using it. Only thing I have noticed is MPG is slightly less. And I only top off the tank with the alcohol fuel. Meaning if I need about half a tank I get the alcohol to mix with the gasoline already in the tank. So saves me a few dollars.
And then the next time you have 3/4 of a tank with E85, and then the next time…..
A gallon of E100 would get 25% less gas mileage than a gallon of ethanol free gas.
We can afford this investment in the future of the world. Try driving 10 MPH slower and carpooling, especially all the moms who have to pick up their children individually.
Since there’s the Top 5 most expensive states for gasoline listed, here’s the Top 5 for cheapest:
Kansas ($3.26), Oklahoma ($3.27), Iowa ($3.29), Nebraska ($3.35) and Arkansas ($3.39). There’s a gas station in Iola, Kansas (Hampel Oil) selling gasoline for $2.39 a gallon and there’s no report of lines either.
While you’re in Iola Kansas filling your tanks, swing by NSA RV Products and check out where their 100% American made towbars are manufactured.
Yeah, when you consider the WA prices have close to $1.50 in State taxes, it puts the cost close to everyone else. Of course, the $1.50 per gallon tax seems to go poof once the State gets it.