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Gas prices remain at record highs for October despite slight decline, AAA says

Gas prices across the United States remain at record highs for this time of year, even as the national average declined slightly over the past week, according to AAA.

As of Thursday, Oct. 8, the national average for a gallon of regular gasoline was $4.36, down about 5 cents from the previous week. Despite the decrease, AAA said this marks the first year the national average has exceeded $4 per gallon during October.

According to AAA, the national average was $4.41 one week ago, $4.15 one month ago and $3.12 at the same time last year.

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The continued high prices come as crude oil costs remain elevated. After briefly falling into the $80-per-barrel range, crude oil prices climbed back above $90 per barrel, according to AAA.

The organization also warned that Hurricane Isaias could affect gasoline prices if the storm disrupts oil production or refinery operations.

New data from the U.S. Energy Information Administration (EIA) showed gasoline demand increased from 8.68 million barrels per day to 8.76 million barrels per day last week.

Total domestic gasoline supplies increased slightly from 204.4 million barrels to 204.7 million barrels, while gasoline production declined from 9.46 million barrels per day to 9.34 million barrels per day.

At the close of Wednesday’s trading session, West Texas Intermediate crude oil fell $1.16 to settle at $88.28 per barrel.

The EIA also reported that U.S. crude oil inventories decreased by 3.2 million barrels to 424.1 million barrels, approximately 1% above the five-year average.

Gasoline prices continue to vary significantly across the country.

According to AAA, California had the nation’s highest average gasoline price at $6.34 per gallon, followed by Hawaii at $5.63, Washington at $5.46, Nevada at $5.45 and Alaska and Oregon at $5.02.

Other states among the most expensive gasoline markets included Idaho at $4.92, Utah at $4.89, Arizona at $4.71 and Illinois at $4.64.

Ohio had the nation’s lowest average gasoline price at $3.71 per gallon, followed by Indiana at $3.72, Georgia at $3.84, Texas at $3.87 and Mississippi and Louisiana at $3.94.

Tennessee, Alabama, Arkansas and Missouri also ranked among the least expensive gasoline markets, with averages ranging from $3.97 to $4.03 per gallon.

Meanwhile, the national average cost of electricity at public electric vehicle charging stations decreased by 1 cent over the past week to 41 cents per kilowatt-hour, AAA reported.

Hawaii had the highest average public charging cost at 54 cents per kilowatt-hour, followed by West Virginia at 52 cents and Louisiana and Alaska at 49 cents.

California averaged 47 cents per kilowatt-hour, while New Hampshire averaged 46 cents.

Kansas had the lowest average public charging cost at 31 cents per kilowatt-hour, followed by Missouri at 32 cents and Iowa at 33 cents.

Nebraska averaged 34 cents per kilowatt-hour, while Maryland, Utah, South Dakota and Vermont each averaged 35 cents.

Drivers can check current gasoline prices and public electric vehicle charging costs along their routes through the AAA TripTik Travel Planner.

Jay Edwards

Born and raised in Northwest NJ, Jay has a degree in Communications and has had a life-long interest in local radio and various styles of music. Jay has held numerous jobs over the years such as stunt car driver, bartender, voice-over artist, traffic reporter (award winning), NY Yankee maintenance crewmember and peanut farm worker. His hobbies include mountain climbing, snowmobiling, cooking, performing stand-up comedy and he is an avid squirrel watcher. Jay has been a guest on America’s Morning Headquarters,program on The Weather Channel, and was interviewed by Sam Champion.

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