Motorists are beginning to feel that familiar pain at the pump again. It may not be as bad as early 2022 but the average price of regular gas appears headed toward $4 a gallon.
Currently, AAA reports the national average price of regular is $3.86 a gallon, about three cents more than seven days ago but nearly 30 cents higher than a month ago. The average price of premium gas is $4.60 a gallon while the average price of diesel fuel is $4.31 a gallon.
“We appear to be at a fork in the road when it comes to which direction gas prices will take – up or down,” said Andrew Gross, AAA’s spokesperson.
“The summer heat that kept people home and suppressed refinery production has eased for now, so we have to look at the cost of oil to determine if the recent price climb is ending. More expensive oil will likely lead to higher prices, so stay tuned.”
Patrick DeHaan, head of Petroleum Analysis at GasBuddy, said on Twitter that at this rate, prices could soon exceed the year-ago price of $3.95 a gallon. He adds that the weather in the Gulf of Mexico has been calm so far this summer, benefiting refinery operations, but that could change.
In addition to weather, demand could also raise gas prices if consumers drive more heading into fall. Government sources report gasoline demand is rising while total gasoline supplies are falling.
As a result, several states have already exceeded $4 a gallon for regular while California and Washington state already have average prices over $5 a gallon.
Here are the states with the most expensive regular gasoline:
- California $5.16
- Washington $5.03
- Hawaii $4.78
- Oregon $4.69
- Alaska $4.49
Here are the states with the cheapest regular gasoline:
- Mississippi $3.32
- Louisiana $3.43
- Tennessee $3.43
- Texas $3.45
- Arkansas $3.48