With thousands and thousands of drivers getting ready to hit the highway for Memorial Day weekend, gasoline costs have remained steady nationwide, offering welcome information for vacationers. In accordance to AAA, the nationwide common for a gallon of common gasoline holds at $3.19, unchanged from the earlier week and considerably decrease than one yr in the past, when costs stood at $3.61.
AAA reported on Could 22 that present costs characterize the lowest Memorial Day common since 2021, when the nationwide common was $3.04 per gallon. Consultants attribute the stability to a provide surplus in the crude oil market, with manufacturing outpacing demand.
The newest information from the Vitality Info Administration (EIA) exhibits a slight decline in gasoline demand, dropping from 8.79 million barrels per day (b/d) final week to 8.64 million b/d. In the meantime, home gasoline provide rose to 225.5 million barrels, up from 224.7 million, and manufacturing additionally climbed, averaging 9.6 million b/d final week.
Whereas pump costs have remained largely flat this yr, AAA famous this steadiness is uncommon in contrast to earlier years. This pattern, they say, is being pushed by present oil market dynamics.
At the shut of Wednesday’s buying and selling session, West Texas Intermediate (WTI) crude oil fell 46 cents, settling at $61.57 per barrel. Crude inventories rose by 1.3 million barrels, reaching 443.2 million barrels, which is nonetheless 6% beneath the five-yr common for this time of yr.
Fuel costs fluctuate considerably by state. The most costly gasoline markets in the U.S. are:
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California – $4.87
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Hawaii – $4.49
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Washington – $4.38
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Oregon – $3.99
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Nevada – $3.93
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Down – $3.64
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Illinois – $3.44
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Arizona – $3.37
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Idaho – $3.32
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Pennsylvania – $3.31
In the meantime, the least costly states for gasoline embrace:
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Mississippi – $2.66
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Louisiana – $2.71
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Alabama – $2.74
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Tennessee – $2.77
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Texas – $2.78
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Arkansa – $2.80
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South Carolina – $2.81
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Oklahola – $2.81
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Kentucky – $2.85
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Missouri – $2.87
Electrical car (EV) drivers additionally noticed steady costs. The nationwide common per kilowatt hour (kWh) at public EV charging stations held at 36 cents over the previous week. AAA offered a breakdown of EV charging prices throughout states, displaying continued disparities.
The most costly states for public EV charging per kWh are:
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Down – 51¢
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West Virginia – 49¢
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Tennessee – 48¢
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Hawaii – 46¢
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Montana – 45¢
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Louisiana – 44¢
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New Hampshire – 42¢
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South Carolina – 42¢
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Arkansa – 42¢
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Kentucky – 42¢
The least costly states for EV charging embrace:
