Gas prices edged slightly higher nationwide as February got underway, continuing a seasonal trend that typically emerges ahead of spring, according to AAA.
The national average price for a gallon of regular gasoline rose a couple of cents over the past week to $2.89. Prices remain well below a year ago, when the national average stood at $3.12.
AAA said gasoline demand declined last week as winter storms kept many drivers off the roads. At the same time, refineries have begun preparing for the seasonal transition to summer-blend gasoline, a process that often puts upward pressure on prices.
According to the Energy Information Administration, gasoline demand fell from 8.75 million barrels per day to 8.15 million barrels per day last week. Total domestic gasoline supplies increased slightly to 257.9 million barrels, while gasoline production declined to an average of 9.0 million barrels per day.
Crude oil prices also rose during the week. West Texas Intermediate crude increased $1.93 to settle at $65.14 a barrel at the close of Wednesday’s trading session. The EIA reported U.S. crude oil inventories fell by 3.5 million barrels, leaving stockpiles about 4% below the five-year average for this time of year.
AAA reported that the national average price for public electric vehicle charging remains unchanged at 38 cents per kilowatt hour.
Regionally, Hawaii and California continued to post the highest gasoline prices in the nation, with averages of $4.40 and $4.39 per gallon, respectively. Other high-price markets included Washington, Nevada and Oregon. The lowest average gas prices were found in Oklahoma, Arkansas and Texas, where prices remained below $2.50 per gallon.
For electric vehicle charging, West Virginia had the highest average public charging cost at 51 cents per kilowatt hour, followed by Alaska and Hawaii. Kansas reported the lowest average public charging price at 25 cents per kilowatt hour.
AAA said drivers can monitor gas prices and electric vehicle charging costs along their routes using the organization’s TripTik Travel planner.
