Gas prices: Remain steady heading into the second weekend of August – Washington Examiner
The national average price for regular gasoline in the United States has remained relatively steady heading into the second weekend of August, with a slight decrease to $3.156 per gallon reported on Friday, down one cent from the previous day. Gas prices have generally fluctuated between $3.13 and $3.20 per gallon as June. July ended with an average price of $3.15 per gallon,marking the least expensive July average since 2021,reflecting stable market conditions as the summer driving season nears its end.
Compared to recent years, current gas prices are lower; July 2022 saw much higher prices, with averages reaching historic highs. Factors influencing recent prices include slight decreases in gasoline demand and production, and also a small decline in domestic gasoline supply.
prices vary considerably by region, with the West coast states experiencing the highest averages-California leads with $4.496 per gallon-while Gulf Coast states have the lowest prices, with Mississippi at $2.71 per gallon being the cheapest in the country.
Gas prices: Remain steady heading into the second weekend of August
The national average price for regular gas slightly decreased on Friday to $3.156 per gallon.
This is a decrease from Thursday’s national average price of one cent per gallon, according to AAA. There has also been a drop in cost compared to gas prices earlier this week, when gas was $3.163 per gallon. For the most part, gas prices have remained between $3.13 per gallon and $3.20 per gallon since June.
July concluded with an average of $3.15 per gallon, the least expensive July average for a gallon of regular gas since 2021. It’s reflective of the steady market for gas prices this summer, as the country enters the last month before Labor Day and the end of what is traditionally known as the summer driving season.
During the previous four years, gas prices were among the highest ever recorded in the country’s history, according to the U.S. Energy Information Administration. Last July, the average cost for a gallon of regular gas was $3.60. In 2023, gas prices were more expensive at $3.712 per gallon. In July 2022, the average price for a gallon of regular gas was at its second-highest level in the country’s history, costing $4.668. In July 2021, the average cost for gas was $3.23.
Regarding last week’s gas prices, AAA cited information from the EIA that showed that demand for gas slightly dropped last week, going from 9.15 million barrels per day to 9.04 million barrels per day. Additionally, gas production decreased a week ago to 9.8 million barrels per day, according to AAA, while domestic gas supply fell “from 228.4 million barrels to 227.1.”
In the United States, different regions have different gas prices, sometimes substantially. The area with the highest average statewide gas prices is the West Coast. Comparatively, the states with the lowest average statewide gas prices are along the Gulf Coast.
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California has the most expensive gas prices in the nation, with a state average cost of $4.496 per gallon. This is followed by Hawaii, where the average price for a gallon of regular gas is $4.465. Next is Washington, where the statewide average cost for fuel is $4.404. Oregon is next at $3.994 per gallon, followed by Alaska at $3.776.
Conversely, Mississippi is the state with the cheapest gas in the nation, with an average price of $2.71 per gallon. Texas is next at $2.739 per gallon, followed by Oklahoma at $2.75. Louisiana has the next cheapest fuel costs at $2.782 per gallon. Tennessee is next, with a statewide average price of $2.796.
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