The national average price for a gallon of regular gasoline is rising again after declining for a week, climbing to about $4.07 as crude oil prices remain elevated amid uncertainty surrounding the Strait of Hormuz, according to AAA.
The national average stood at $4.0715 per gallon Thursday, up from $4.0633 a week earlier and $3.8722 a month ago. A year ago, the national average was $3.1558 per gallon.
Gas prices had fallen to $4 per gallon Monday before beginning to rise again, AAA said.
Crude oil prices have returned to the $80-per-barrel range amid continued uncertainty along the Strait of Hormuz. AAA said lower gasoline demand has not been enough to offset crude oil prices that are keeping prices at the pump higher than normal for this time of year.
So far, the national gasoline average this month is the highest on record for August, according to AAA.
New data from the U.S. Energy Information Administration showed gasoline demand decreased from 9.03 million barrels per day to 8.96 million barrels per day last week. Domestic gasoline supplies fell from 209.7 million barrels to 208.7 million barrels.
Gasoline production also declined, averaging 9.6 million barrels per day.
West Texas Intermediate crude rose 7 cents Wednesday to settle at $83.27 per barrel. U.S. crude oil inventories increased by 17.4 million barrels from the previous week to 424.4 million barrels, according to the EIA. Inventories were about 2% below the five-year average for this time of year.
California had the nation’s highest average gasoline price at $5.58 per gallon, followed by Hawaii at $5.43 and Washington at $5.16. Louisiana had the lowest average at $3.57, followed by Indiana at $3.59 and Mississippi at $3.60, according to AAA.
For electric vehicle drivers, the national average price at public charging stations remained unchanged at 42 cents per kilowatt-hour.
New Jersey was among the 10 most expensive states for public EV charging, with an average price of 45 cents per kilowatt-hour. West Virginia had the highest average at 52 cents, followed by Hawaii at 51 cents and Alaska at 48 cents.
Kansas had the lowest public charging average at 31 cents per kilowatt-hour, followed by Missouri at 32 cents and Iowa at 33 cents.
AAA said drivers can find current gasoline and electric charging prices along their routes through its TripTik Travel planner.
