AAA: National Average Continues to Fall; Crude Oil Keeps Climbing

Gas prices in West Central Kentucky are 11 cents higher this week at $3.925 per gallon, according to AAA East Central’s Gas Price Report.

Nationwide Trends:
The national average for a gallon of regular gasoline is a penny cheaper this week at $4.28. The drop is fueled by the transition to winter-blend gasoline which is cheaper to produce and costs less for consumers. But high crude oil prices are preventing steep declines at the pump. Currently, the price for a barrel of crude oil is over $100 per barrel amid instability in the Strait of Hormuz. This month is poised to set a record as the most expensive October ever for gas prices following similar records set in August and September of this year.

 

According to new data from the Energy Information Administration (EIA), gasoline demand increased last week from 8.40 million barrels per day to 8.98 million. Total domestic gasoline supply decreased from 208.3 million barrels to 205.3 million. Gasoline production increased from 9.23 million barrels per day to 9.75 million barrels.

 

At the close of Wednesday’s formal trading session, West Texas Intermediate fell 67 cents to settle at $97.15 per barrel. The EIA reports that U.S. crude oil inventories decreased 3.1 million barrels to 412.5 million barrels, 3% below the five-year average.

 

The national average per kilowatt hour of electricity at a public EV charging station stayed the same this past week at 41 cents.

 

West Central Kentucky Averages

Today One Week Ago One Year Ago Record Price Date Record Price
$3.925 $3.816 $2.539 6/13/2022 $4.742

 

The average price of unleaded self-serve gasoline today in various areas:      

$3.919        Bowling Green
$4.053        Elizabethtown
$4.123        Louisville
$3.669        Owensboro
$3.862        Paducah

 

Quick Gas and Electricity Stats

Gas

The nation’s top 10 most expensive gasoline markets are California ($6.01), Hawaii ($5.65), Washington ($5.30), Nevada ($5.30), Illinois ($4.88), Oregon ($4.87), Alaska ($4.84), Michigan (4.82), Idaho ($4.68), and Utah ($4.64).

 

The nation’s top 10 least expensive gasoline markets are North Carolina ($3.48), Georgia ($3.65), Texas ($3.71), South Carolina ($3.76), Louisiana ($3.78), Alabama ($3.81), Tennessee ($3.81), Mississippi ($3.83), Arkansas ($3.84), and Delaware ($3.90).

 

Electric

The nation’s top 10 most expensive states for public charging per kilowatt hour are Hawaii (54 cents), West Virginia (52 cents), Louisiana (49 cents), Alaska (47 cents), California (47 cents), New Hampshire (47 cents), Arkansas (45 cents), North Dakota (44 cents), Arizona (43 cents), and Nevada (43 cents).

The nation’s top 10 least expensive states for public charging per kilowatt hour are Kansas (31 cents), Missouri (32 cents), Iowa (33 cents), Maryland (35 cents), Nebraska (35 cents), South Dakota (35 cents), Utah (35 cents), Vermont (36 cents), Minnesota (37 cents), and New Mexico (37 cents).

 

AAA East Central is a not-for-profit association with 69 local offices in Kentucky, New York, Ohio, Pennsylvania and West Virginia serving 2.7 million members. Follow us on Twitter, Instagram and Facebook. AAA East Central provides services to its members including Automotive, Insurance, Discounts & Rewards, Financial, and Travel. Find out more about AAA Membership and current savings here.