Gasoline Remains Flat at $2.26 Per Gallon
The current level is a 1 cent above a month ago and 34 cents lower than a year ago.
State-level pricing trends represented a sharp departure from the prior week, which saw rising prices in 25 states. The latest demand rate from the U.S. Energy Information Administration reflected summer-like numbers.
“Three-fourths of the country faced below freezing temperatures last week, which may have prompted many motorists, especially in the Midwest, to fill-up early and often ahead of the storm, in turn driving demand. This is similar to what we see prior to hurricanes,” said Jeanette Casselano, AAA spokesperson. “Now that the storm has passed, demand is likely to fall more in-line with typical February estimates.”
For the week ending Jan. 25, the EIA reported preliminary gasoline demand at 9.6 million barrels per day, which last reached this peak level during the 2018 Labor Day weekend.
The states with the least expensive markets include Missouri ($1.90), Arkansas ($1.93), Oklahoma ($1.94), Kansas ($1.95), Mississippi ($1.96), Texas ($1.96), Alabama ($1.97), South Carolina ($1.98), Louisiana ($2), and Colorado ($2.02).
The states with the most monthly changes include Utah (down 24 cents), Wyoming (down 22 cents), Colorado (down 20 cents), Idaho (down 20 cents), Alaska (down 19 cents), Washington (down 17 cents), Arizona (down 17 cents), Oregon (down 15 cents), Florida (up 14 cents), and Ohio (up 13 cents).
Meanwhile, the average price of a gallon of diesel increased one-tenths of a cent to $2.966, which is 12 cents lower than a year ago, according to the EIA.
Source: Automotive Fleet