National average gas price holds at $4.09 as high oil prices keep fuel costs elevated, AAA says
The national average price for a gallon of regular gasoline remained unchanged this week at $4.09, as elevated crude oil prices continue to keep fuel costs high despite the approach of the late-summer driving season, according to AAA.
The national average stood at $4.098 per gallon Thursday, compared with $4.091 a week ago. Prices remain significantly higher than a year ago, when the national average was $3.140 per gallon.
AAA said crude oil prices have remained in the $80-per-barrel range as instability continues along the Strait of Hormuz, limiting the seasonal decline in gasoline prices that typically begins in August.
“Typically, August brings some relief at the pump as road trips wind down and fall routines get underway for many families,” AAA said. “But elevated crude oil prices could prevent that seasonal shift from starting just yet.”
According to the U.S. Energy Information Administration, gasoline demand increased last week from 8.94 million barrels per day to 9.04 million barrels per day. Domestic gasoline supplies remained unchanged at 211.3 million barrels, while gasoline production increased to an average of 9.9 million barrels per day.
At the close of trading Wednesday, West Texas Intermediate crude oil rose $5.20 to settle at $84.46 per barrel. The EIA reported U.S. crude oil inventories fell by 7.2 million barrels to 404.5 million barrels, about 7% below the five-year average for this time of year.
California continued to have the nation’s highest average gasoline price at $5.64 per gallon, followed by Hawaii at $5.46 and Washington at $5.11. Indiana had the nation’s lowest average price at $3.56 per gallon, followed by Texas at $3.64 and Mississippi at $3.66.
AAA also reported the national average price for electricity at public EV charging stations remained unchanged at 42 cents per kilowatt-hour. New Jersey ranked among the most expensive states for public charging at 45 cents per kilowatt-hour, while Kansas had the lowest average at 30 cents.
Drivers can find current fuel and public EV charging prices using AAA’s TripTik Travel Planner.
