The national average price for a gallon of regular gasoline rose more than 5 cents over the past week as the seasonal increase in fuel prices gets underway, according to AAA.
AAA said Thursday that the national average climbed to $2.983 per gallon, up from $2.929 a week ago. A month ago, the average stood at $2.881, while drivers were paying $3.134 per gallon at this time last year.
The increase comes as refineries begin producing summer-blend gasoline, which contains more expensive additives designed to reduce evaporation during warmer months. Gas demand is also expected to rise as spring break season approaches and more drivers take road trips.
According to the U.S. Energy Information Administration, gasoline demand decreased slightly last week from 8.74 million barrels per day to 8.73 million. Total domestic gasoline supplies fell from 255.8 million barrels to 254.8 million, while gasoline production averaged 9.2 million barrels per day.
In oil markets, West Texas Intermediate crude fell 21 cents Wednesday to settle at $65.42 per barrel. The EIA reported that U.S. crude oil inventories increased by 16 million barrels to 435.8 million barrels, about 3% below the five-year average for this time of year.
California continues to have the highest average gasoline price in the nation at $4.63 per gallon, followed by Hawaii at $4.40 and Washington state at $4.35. Oklahoma has the lowest average at $2.43, followed by Mississippi at $2.52 and Kansas at $2.54.
For electric vehicle drivers, the national average cost per kilowatt hour at public charging stations remained unchanged at 39 cents. West Virginia has the highest public charging rate at 52 cents per kilowatt hour, while Kansas has the lowest at 25 cents.
AAA advises drivers to monitor prices and plan ahead using its TripTik Travel planner to find current gas and electric charging prices along their routes.
