We’re well into the summer driving season, and prices at the pump have remained relatively stable. However, they are sharply higher than a year ago in the midst of the pandemic shutdown.
The AAA Fuel Gauge Survey shows that the national average price of regular gasoline is $3.08 a gallon, just a penny more than last Friday. Prices are only three cents higher than a month ago. The average price of premium gas is $3.70 a gallon, two cents higher than last week. The average price of diesel fuel is $3.22 a gallon, only a penny higher than a week ago.
U.S. crude oil prices moved higher this week after the Energy Information Administration (EIA) reported a significant drawdown in U.S. stockpiles. Oil supplies have dwindled over a four-week period, and gasoline supplies followed suit in the latest period, ending a four-week streak of a supply build.
Now that gasoline stockpiles are getting smaller, consumers may see modest increases in prices at the pump as we approach the Independence Day holiday.
Kentucky saw its statewide average gas price decline by four cents a gallon in the last week. Motorists in Colorado, however, are paying seven cents a gallon more today than they did a week ago.
The states with the most expensive gas
These states currently have the highest prices for regular gas, according to the AAA Fuel Gauge Survey:
The states with the cheapest regular gas
The survey found these states currently have the lowest prices for regular gas:
South Carolina ($2.77)