Heading into the final week of the year, the national average price for a gallon of gasoline is $2.44, an increase of two cents on the week. As more drivers hit the road for the holidays, the increase in driving demand is likely the cause for increases in some states. Despite the incremental jump, motorists in 33 states are paying less on the week – as much as nine cents. Today’s average is about 26 cents per gallon higher than a year ago. The cheapest gas can be found in Alabama ($2.17), while Hawaii ($3.29) sells the most expensive.
“The majority of motorists have seen savings at the pump this month. The national gas price average is over five cents cheaper than the beginning of December,” said Jeanette Casselano, AAA spokesperson.
The top ten markets with the largest weekly changes are: Michigan (+17 cents), Ohio (+15 cents), Indiana (+12 cents), Illinois (+11 cents), Kentucky (+9 cents), Alaska (-9 cents), Wisconsin (+7 cents), Missouri (+5 cents), North Dakota (-4 cents) and West Virginia (+4 cents).
The nation’s top ten least expensive markets are: Alabama ($2.17), Texas ($2.17), Mississippi ($2.18), Arkansas ($2.18), Oklahoma ($2.19), South Carolina ($2.20), Missouri ($2.20), Louisiana ($2.22), Kansas ($2.22) and Tennessee ($2.23).
South and Southeast
On the week, Florida saw the largest decrease (-2 cents) in the region. Alabama ($2.17) takes the Nation’s top spot for the cheapest gas price average. Six states in the region join Alabama on this week’s top 10 list of states with the least expensive gas price averages: Texas ($2.17), Mississippi ($2.18), Arkansas ($2.18), Oklahoma ($2.20), South Carolina ($2.20) and Louisiana ($2.22).
While gas prices are more expensive nationally compared to last year, Florida motorists are only seeing a three-cent difference, which is the smallest year-over-year difference in the region and the country.
With an addition of 2.4 million bbl, gasoline inventories grew for a third straight week. At 84 million bbl in total, this is the largest total inventory in the region since late January.