The national average price for a gallon of regular gasoline dropped nearly 7 cents over the past week to $4.41, following a record-setting September at the pump, according to AAA.
The national average stood at $4.4137 per gallon Thursday, down from $4.4825 a week ago but up from $4.0954 a month ago. A year ago, the national average was $3.1605.
AAA said the monthly average for September was $4.33 per gallon, 50 cents higher than the previous September record of $3.83 set in 2023.
Crude oil prices have fallen back into the $90-per-barrel range, helping lower the national average, according to AAA. Despite the recent decline, the organization said gas prices remain at their highest level on record for this time of year.
New data from the U.S. Energy Information Administration showed gasoline demand decreased from 8.84 million barrels per day to 8.68 million barrels per day last week. Total domestic gasoline supply declined from 206 million barrels to 204.4 million barrels, while gasoline production decreased from 9.59 million barrels per day to 9.46 million.
West Texas Intermediate crude oil rose $1.04 Wednesday to settle at $90.42 per barrel. U.S. crude oil inventories increased by 900,000 barrels to 427.3 million barrels, according to the EIA, about 2% above the five-year average.
California had the nation’s highest average gasoline price at $6.40 per gallon, followed by Hawaii at $5.62 and Washington and Nevada at $5.49. Indiana had the lowest average at $3.81, followed by Texas at $3.94 and Georgia and Mississippi at $3.96.
Meanwhile, the national average cost of electricity at a public electric vehicle charging station remained unchanged at 42 cents per kilowatt-hour.
New Jersey ranked among the 10 most expensive states for public EV charging, with an average of 45 cents per kilowatt-hour, according to AAA. Hawaii was the most expensive at 54 cents, while Kansas had the lowest average at 31 cents.
