Gas Prices Edge Slightly Higher In Last Week

The price of gasoline at the pump rose again in the last seven days, even though consumers are using less. But at least the rate slowed considerably from the previous week.

The national average price of self-serve regular today is $3.468 per gallon, down from $3.443 last Friday, according to AAA's Fuel Gauge Survey. That's about 11 cents a gallon less than consumers were paying a month ago.

The average price of diesel fuel today is $3.846 per gallon, up from $3.801 a week ago.

Prices have begun to stabilize a bit as crude oil prices have leveled off around $85 a barrel. In the U.S., meanwhile, refiners have adjusted their inventories to keep supplies tight.

Drop in supply

The U.S. Energy Information Administration's weekly report shows U.S stockpiles of crude oil and refined gasoline dropped sharply in the previous week, mainly because refineries cut imports of oil and reduced refinery operations.

Crude oil supplies fell by 4.73 million barrels while gasoline stocks fell by 3.32 million barrels. Refineries operated at only 83 percent of capacity as consumer demand for gasoline fell 1.5 percent.

While the national average gas price remained fairly stable, there was some dramatic movement within the states in terms of price fluctuation. New Mexico and Ohio joined the top ten states with the cheapest gas prices. Missouri replaced South Carolina as the state with the cheapest gas.

The states with the most expensive gas this week are:

• Hawaii ($4.200)
• Alaska ($4.040)
• California ($3.866)
• Washington ($3.833)
• Oregon ($3.799)
• New York ($3.725)
• Connecticut ($3.730)
• Idaho ($3.623)
• Nevada ($3.636)
• Montana ($3.584)

The states with the least expensive gas this week are: 

• Missouri ($3.226)
• South Carolina ($3.270)
• Ohio ($3.308)
• Mississippi ($3.314)
• Tennessee ($3.318)
• New Mexico ($3.319)
• Texas ($3.331)
• Alabama ($3.341)
• Louisiana ($3.342)
• Oklahoma ($3.342)