The national average for a gallon of regular gasoline decreased 7 cents over the past week to $4.09. After last week’s announcement of a two-week ceasefire between the U.S. and Iran, the price for a barrel of crude oil has continued to trade below $100.  However, maritime traffic transiting the Strait of Hormuz remains subdued as regional tensions persist and negotiations continue.

Today’s National Average: $4.093

One Week Ago: $4.166

One Month Ago: $3.718

One Year Ago: $3.169

According to new data from the Energy Information Administration (EIA), gasoline demand increased last week from 8.56 million b/d to 9.08 million. Total domestic gasoline supply dropped from 239.3 million barrels to 232.9 million. Gasoline production increased last week, averaging 9.8 million barrels per day.

Oil Market Dynamics

At the close of Wednesday’s formal trading session, WTI rose 0.01 cent to settle at $91.29 a barrel. The EIA reports crude oil inventories decreased by 0.9 million barrels from the previous week. At 463.8 million barrels, U.S. crude oil inventories are about 1% above the five-year average for this time of year.

EV Charging

The national average per kilowatt hour of electricity at a public EV charging station stayed the same this past week at 41 cents.

State Stats

Gas

The nation’s top 10 most expensive gasoline markets are California ($5.86), Hawaii ($5.65), Washington ($5.38), Oregon ($4.92), Nevada ($4.95), Alaska ($4.64), Arizona ($4.63), Illinois ($4.35), Idaho ($4.33), and Washington, DC ($4.27).

The nation’s top 10 least expensive gasoline markets are Oklahoma ($3.43), Kansas ($3.50), North Dakota ($3.61), Nebraska ($3.62), Iowa ($3.63), Arkansas ($3.64), Missouri ($3.66), Georgia ($3.66), South Dakota ($3.68), and Minnesota ($3.69).

Electric

The nation’s top 10 most expensive states for public charging per kilowatt hour are West Virginia (53 cents), Hawaii (51 cents), Alaska (50 cents), Louisiana (47 cents), New Hampshire (47 cents), California (46 cents), South Carolina (46 cents), New Jersey (45 cents), Arkansas (44 cents), and Nevada (43 cents).

The nation’s top 10 least expensive states for public charging per kilowatt hour are Kansas (29 cents), Missouri (32 cents), Utah (32 cents), Nebraska (33 cents), Maryland (33 cents), Iowa (34 cents), South Dakota (35 cents), Vermont (35 cents), New Mexico (36 cents) and Delaware (37 cents).

Drivers can find current gas and electric charging prices along their route using the AAA TripTik Travel planner.