Gas Prices Continue to Drop as Spring Travel Slows

Drivers across the U.S. are seeing some relief at the pump as gas prices continue to fall in mid-April. According to AAA, the national average price for a gallon of regular gasoline dropped five cents over the past week, settling at $3.167 as of April 17. Analysts attribute the decline to softening demand and continued low crude oil prices.

“With crude as low as it’s been in a few years, drivers may continue to see lower pump prices as summer approaches,” AAA reported in its latest update.

The national average has fallen steadily in recent weeks:

• Today: $3.167
• One week ago: $3.222
• One month ago: $3.078
• One year ago: $3.660

Data from the Energy Information Administration (EIA) shows that gasoline demand inched up slightly, rising from 8.42 million barrels per day to 8.46 million barrels per day. Meanwhile, domestic gasoline supply decreased from 236.0 million barrels to 234.0 million barrels. Gasoline production averaged 9.4 million barrels per day last week.

On Wednesday, West Texas Intermediate (WTI) crude settled at $62.47 per barrel, up $1.14 from the previous session. The EIA reported a 0.5 million barrel increase in U.S. crude oil inventories, bringing the total to 442.9 million barrels—about 6% below the five-year average for this time of year.

While gas prices fluctuate, the cost of charging electric vehicles at public stations held steady. The national average price per kilowatt hour remained at 34 cents this week.

Most Expensive Gasoline Markets:

1. California – $4.85
2. Hawaii – $4.51
3. Washington – $4.33
4. Oregon – $3.96
5. Nevada – $3.91
6. Alaska – $3.65
7. Illinois – $3.39
8. Arizona – $3.36
9. Pennsylvania – $3.36
10. Idaho – $3.34

Least Expensive Gasoline Markets:

1. Mississippi – $2.70
2. Tennessee – $2.70
3. Texas – $2.73
4. Oklahoma – $2.73
5. South Carolina – $2.74
6. Louisiana – $2.76
7. Kentucky – $2.78
8. Alabama – $2.78
9. Arkansas – $2.79
10. Kansas – $2.84

Most Expensive States for EV Charging (per kWh):

1. Hawaii – 55 cents
2. Alaska – 47 cents
3. West Virginia – 47 cents
4. Montana – 45 cents
5. South Carolina – 43 cents
6. Tennessee – 42 cents
7. Idaho – 41 cents
8. Kentucky – 41 cents
9. Louisiana – 40 cents
10. New Hampshire – 40 cents

Least Expensive States for EV Charging (per kWh):

1. Kansas – 22 cents
2. Missouri – 25 cents
3. Iowa – 26 cents
4. North Dakota – 26 cents
5. Delaware – 27 cents
6. Nebraska – 28 cents
7. Utah – 29 cents
8. Texas – 30 cents
9. Maryland – 30 cents
10. Vermont – 31 cents

Image: AAA