Gas prices across the United States are rising sharply as spring break travel begins and demand for fuel increases, according to AAA.
The national average price for a gallon of regular gasoline reached $3.598, up nearly 35 cents from $3.251 a week ago, AAA reported Thursday. Prices were $2.944 one month ago and $3.080 at this time last year.
AAA said gasoline demand typically rises during the spring as warmer weather and school vacations bring more drivers onto the roads.
Data from the U.S. Energy Information Administration shows gasoline demand increased last week from 8.29 million barrels per day to 9.24 million barrels per day, while domestic gasoline supply dropped from 253.1 million barrels to 249.5 million barrels. Gasoline production also increased, averaging 9.9 million barrels per day.
Crude oil prices — a major factor influencing gasoline costs — have also climbed. At the close of Wednesday’s trading session, West Texas Intermediate crude rose $3.80 to settle at $87.25 per barrel. Federal data shows U.S. crude oil inventories increased by 3.8 million barrels to 443.1 million barrels, about 2% below the five-year average for this time of year.
To help stabilize global energy markets, the United States announced plans to release 172 million barrels of oil from the Strategic Petroleum Reserve over four months. The move is part of a broader effort by the International Energy Agency to release about 400 million barrels of oil, the largest coordinated emergency release in the agency’s history.
Among states, California has the highest average gasoline price at $5.36 per gallon, followed by Hawaii, Washington and Nevada. The lowest prices are in Kansas, Oklahoma and North Dakota, where gasoline averages just over $3 per gallon.
AAA also reported that the average price of electricity at public electric vehicle charging stations increased slightly this week, rising 2 cents to 41 cents per kilowatt hour nationwide.
Drivers can track fuel and charging prices along their route using AAA’s TripTik Travel planner, the organization said.
