Gas Prices Stop Going Up -- for Now

The price of gasoline actually dropped a bit in the last week, following several weeks of steady increases.

The national average price of self-serve regular today is $3.101 a gallon, dropping from $3.117 last Friday, according to AAA's Fuel Gauge Survey. The average price of diesel fuel is up another penny -- rising to $3.426 a gallon from $3.413 last week.

Prices have followed the lead of crude oil on the world markets. The price of oil, whose rise has driven up gasoline prices since the fall, began to lose momentum last week. Oil was trading in New York this week just under $96 a barrel.

Meanwhile, the U.S. Energy Information Administration reports supplies of both oil and gasoline in the U.S. are on the rise. Oil stockpiles rose by 4.84 million barrels in the previous week, according to the weekly EIA report.

The news is even better for consumers when it comes to gasoline. Supplies increased for the fourth straight week, rising by 2.4 million barrels. A contributing factor to the increase is a 143,000 barrel a day drop in gasoline demand.

It's possible rising prices have prompted consumers to drive less. However, Andrew Delmege, AAA's manager of regulatory affairs, says other factors are more likely.

"Increased winter inventories are not unusual with the reduced demand typically seen during the beginning of the calendar year," he said.

Highs and lows

The states with the most expensive gasoline today are:

• Hawaii ($3.695)

• Alaska ($3.610)

• New York ($3.337)

• California ($3.361)

• Connecticut ($3.335)

• Washington ($3.251)

• Oregon ($3.217)

• Vermont ($3.213)

• Illinois ($3.209)

• Maine ($3.206)

The states with the least expensive gasoline today are:

• Wyoming ($2.854)

• Missouri ($2.927)

• South Carolina ($2.934)

• Idaho ($2.947)

• Texas ($2.949)

• Mississippi ($2.951)

• Colorado ($2.952)

• Tennessee ($2.963)

• Oklahoma ($2.975)

• Arkansas ($2.980)