AAA reports that the national average price of regular gas is $3.40 a gallon, with the highest price being paid in California, at $4.70; the lowest average price comes in at $2.96 a gallon in Oklahoma. The average price of premium gas is holding steady at $4.03 a gallon, and the average price of diesel fuel is also stable at $3.64 a gallon.
On a positive note for drivers, oil prices began the week with a sharp decline. U.S. oil prices have been over $80 a barrel for several weeks, but they began the week with prices in the high 70s.
“The price of crude oil accounts for about 50% to 60% of what consumers pay at the pump, so a lower oil price should translate into better gasoline prices for drivers,” said Andrew Gross, AAA’s spokesperson. “But until global oil production ramps back up to pre-pandemic levels, this recent dip in the price of crude may only be temporary.”
With millions of people driving to visit relatives this week, demand may put a dent in supply. The Energy Information Administration (EIA) reported that U.S. gasoline supplies fell by 700,000 barrels last week. Meanwhile, AAA predicts that Thanksgiving week travel will return to pre-pandemic levels.
States with the most expensive gas
These states currently have the highest prices for regular gas, according to AAA:
California ($4.70)
Hawaii ($4.34)
Nevada ($3.98)
Washington ($3.88)
Oregon ($3.78)
Arizona ($3.74)
Alaska ($3.72)
Utah ($3.69)
Idaho ($3.68)
Pennsylvania ($3.60)
States with the cheapest gas
AAA reports that these states currently have the lowest prices for regular gas:
Oklahoma ($2.96)
Texas ($3.01)
Arkansas ($3.03)
Mississippi ($3.06)
Kansas ($3.06)
Missouri ($3.07)
Kentucky ($3.07)
South Carolina ($3.11)
Wisconsin ($3.11)
Tennessee ($3.11)