The average price of a gallon of gasoline across the country rose slightly from last week, rising 3 cents as inflation levels continued to fall.
The national average reported Thursday was $3.55, about 3 cents higher than a month ago but down $1.08 from this time last year. According to AAA.
The recent surge in pump prices has been triggered by higher crude oil prices, which have soared from the high $60s a barrel two weeks ago to around the mid-$70s now.
“Gasoline demand has dropped nearly 10% since the holidays as people returned to normal driving habits,” said AAA spokesman Andrew Gross. said in a news release. “Normally, this would lead to lower gasoline prices, but at the moment that move is counteracted by higher prices for petrol, the main component of gasoline.”
New data released by Energy Information Management BureauAs quoted by AAA, gas demand fell sharply, dropping from 9.6 million barrels per day to 8.76 million barrels per day. However, total domestic inventories stagnated, holding last week’s crude oil total to 219.5 million barrels.
Patrick De Haan, Head of Petroleum Analysis at GasBuddy, said: said in his breakdown Total domestic inventories have fallen by 5.5 million barrels since July 2022, down about 2.4% and 7% below the typical five-year average for this month.
West Texas Intermediate (WTI) rose 92 cents to close at $75.75 after Wednesday’s formal trading session.
Arizona loses its nickel.Gas prices are 22 cents higher than the national average
copper state price It didn’t have the kind of descent that we’ve become accustomed to seeing lately, but the in-state pump still sheds some weight.
After dropping a nickel from last week’s statewide average, Arizona’s total now sits at about $3.77, not in the top 10 most expensive gas markets in the country.
Arizona and Utah tied for the biggest drops of the week at 5 cents each, but the opposite trend was seen in many states, including Florida, which led the nation at 11 cents.
But now, Grand Canyon State is eight points behind on the scoresheet and continues to gain momentum to reunite with National State, which is about 22 cents behind them, somewhere in between.
last week:Arizona pump prices drop an average of 11 cents.30 cents higher than the national average
Top 10: Which states pay the most for gas?
- Washington: $4.95
- California: $4.90
- Hawaii: $4.70
- Oregon: $4.61
- Alaska: $4.29
- Nevada: $4.23
- Idaho: $3.91
- Colorado: $3.84
- Utah: $3.84
- Illinois: $3.80
Breakdown by county
Arizona counties have held up relatively well since last Thursday, adding just two counties to the total.
Increases were seen in Pinal and Greenlee counties. However, they only rose a penny and two cents respectively.
Pima County recorded the largest decline in the state, dropping 11 cents from the total and dropping down the rankings. Coconino County remains the most expensive gas supplier in Arizona, while Graham County continues to be the cheapest market in the state.
Putting it all together, the ranking looks like this.
- Coconino: $3.93 (-0.02)
- Yavapai: $3.88 (-0.02)
- Santa Cruz: $3.87 (-0.02)
- Maricopa: $3.86 (-0.04)
- Mojave: $3.81 (-0.03)
- Navajo: $3.79 (-0.01)
- Apache: $3.77 (-0.02)
- Yuma: $3.74 (-0.05)
- La Paz: $3.71 (-0.05)
- Pinal: $3.70 (+0.01)
- Hira: $3.51 (-0.04)
- Pima: $3.50 (-0.11)
- Cochise: $3.48
- Greenlee: $3.33 (+0.02)
- Graham: $3.25 (-0.01)
