Gas prices remain elevated nationwide as August is on track to become the most expensive August on record at the pump, according to AAA.
The national average for a gallon of regular gasoline stood at $4.0997 Thursday, about 1 cent lower than a week ago. The average was $4.1097 a month ago and $3.2081 a year ago.
For the first time, the national average has remained above $4 per gallon every day in August, AAA said. The month is poised to surpass the previous August record set in 2022.
AAA attributed continued pressure on prices in part to volatility in the Strait of Hormuz, which has kept crude oil prices in the $80-per-barrel range.
New data from the U.S. Energy Information Administration showed gasoline demand increased from 8.68 million barrels per day to 9.04 million barrels per day last week. Total domestic gasoline supplies declined from 209.4 million barrels to 206.8 million barrels.
Gasoline production increased, averaging 9.8 million barrels per day.
At the close of Wednesday’s formal trading session, West Texas Intermediate crude oil fell 13 cents to settle at $82.23 per barrel. U.S. crude oil inventories increased by 100,000 barrels to 428.9 million barrels, which is 1% above the five-year average for this time of year, according to the EIA.
California had the nation’s highest average gasoline price at $5.63 per gallon, followed by Hawaii at $5.41 and Washington at $5.27. Indiana had the lowest average at $3.46, followed by Texas at $3.63 and Mississippi at $3.65.
Meanwhile, the national average cost of electricity at a public electric vehicle charging station remained unchanged at 42 cents per kilowatt-hour.
New Jersey was among the 10 most expensive states for public EV charging, with an average of 45 cents per kilowatt-hour, according to AAA. West Virginia had the highest average at 52 cents, followed by Hawaii at 51 cents and Alaska at 48 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.
