Gas prices fall ahead of Halloween, but remain more than $1 higher than last year, AAA says
The national average price for a gallon of regular gasoline dropped about 5 cents over the past week to $4.22, providing some relief for motorists heading into Halloween weekend, according to AAA.
Despite the decline, gas prices remain significantly higher than a year ago, while crude oil prices above $100 per barrel are limiting further decreases at the pump.
As of Thursday, Oct. 29, the national average stood at $4.2258 per gallon, down from $4.2701 a week earlier and $4.4558 a month ago. However, the average remains nearly $1.19 higher than the $3.0384 recorded at the same time last year.
AAA also urged motorists to exercise additional caution as Halloween celebrations and the end of daylight saving time approach. With trick-or-treaters expected to be out Saturday, Oct. 31, and daylight saving time ending Sunday, Nov. 1, drivers are encouraged to slow down, avoid distractions and watch carefully for pedestrians at crosswalks and in residential neighborhoods.
According to new data from the U.S. Energy Information Administration, gasoline demand decreased from 8.98 million barrels per day to 8.38 million barrels per day last week, while total domestic gasoline supplies increased from 205.3 million barrels to 209.2 million barrels.
Gasoline production also declined during the same period, falling from 9.75 million barrels per day to 9.24 million barrels per day.
Meanwhile, crude oil prices continued to put upward pressure on gasoline costs. At the close of Wednesday’s trading session, West Texas Intermediate crude oil rose $2.88 to settle at $102.78 per barrel.
The Energy Information Administration reported that U.S. crude oil inventories decreased by 1.9 million barrels to 410.6 million barrels, approximately 4% below the five-year average.
Gas prices vary significantly across the country
California remained the nation’s most expensive gasoline market, with an average price of $5.94 per gallon, followed by Hawaii at $5.65, Nevada at $5.25, Washington at $5.24 and Oregon at $4.83.
Other states among the 10 most expensive gasoline markets were Alaska at $4.80, Illinois at $4.79, Michigan at $4.66, Utah at $4.62 and Idaho at $4.60.
North Carolina had the nation’s lowest average gasoline price at $3.42 per gallon, followed by Georgia at $3.61, Texas at $3.70, South Carolina at $3.72 and Louisiana at $3.74.
Rounding out the 10 least expensive gasoline markets were Tennessee at $3.76, Alabama at $3.77, Mississippi and Arkansas at $3.80 each, and Indiana at $3.89.
Electric vehicle charging prices remain steady
AAA also reported that the national average cost of electricity at public electric vehicle charging stations remained unchanged over the past week at 41 cents per kilowatt-hour.
Hawaii had the highest average public charging cost at 55 cents per kilowatt-hour, followed by West Virginia at 52 cents and Louisiana at 50 cents. New Hampshire and California averaged 47 cents, Alaska 46 cents, Arkansas 45 cents, and North Dakota, Arizona and Nevada 44 cents each.
Kansas recorded the lowest average public charging cost at 31 cents per kilowatt-hour, followed by Missouri at 32 cents and Iowa at 33 cents. Maryland, South Dakota and Utah each averaged 35 cents, while Nebraska, Minnesota and Vermont averaged 36 cents. New Mexico rounded out the 10 least expensive states at 37 cents.
AAA encourages motorists planning trips to check current gasoline and electric vehicle charging prices before traveling. Drivers can compare prices along their routes using the AAA TripTik Travel Planner.
