CALIF./NEV. – While the national average for a gallon of gasoline held steady this week at $4.09, Californians and Nevadans continue to face rising prices. According to the AAA Weekly Fuel Report, the California state average rose seven cents from last week to $5.64, and the Nevada state average rose 12 cents from last week to $4.81.
Nationwide, gas prices are nearly a dollar higher than they were this time last year, driven largely by crude oil prices hovering around $80 per barrel amid lingering instability along the Strait of Hormuz.
“August brings some relief at the pump as road trips wind down and fall routines get underway for many families,” said Aldo Vazquez, spokesperson for AAA Mountain West Group. “However, elevated crude oil prices could prevent that seasonal shift from starting just yet.”
Fuel Prices Around California:
San Francisco: $5.83
Oakland: $5.65
San Jose: $5.63
Sacramento: $5.59
Fresno: $5.56
Stockton: $5.47
Modesto: $5.47
Fuel Prices Around Nevada:
Las Vegas: $4.80
Reno: $5.17
According to new data from the Energy Information Administration (EIA), gasoline demand increased last week from 8.94 million to 9.04 million. Total domestic gasoline supply remained flat at 211.3 million. Gasoline production increased last week, averaging 9.9 million barrels per day.
Oil Market Dynamics
At the close of Wednesday’s formal trading session, WTI rose $5.20 to settle at $84.46 a barrel. The EIA reports that crude oil inventories decreased by 7.2 million barrels from the previous week. At 404.5 million barrels, U.S. crude oil inventories are about 7% below the five-year average for this time of year.
EV Charging
The national average per kilowatt hour of electricity at a public EV charging station stayed the same this past week at 42 cents. In California, the average per kilowatt hour of electricity is 47 cents.
State Stats
Gas
The nation’s top 10 most expensive gasoline markets are California ($5.64), Hawaii ($5.46), Washington ($5.11), Nevada ($4.81), Alaska ($4.73), Oregon ($4.64), Arizona ($4.42), Illinois ($4.34), Idaho ($4.30), and Montana ($4.28).
The nation’s top 10 least expensive gasoline markets are Indiana ($3.56), Texas ($3.64), Mississippi ($3.66), Louisiana ($3.68), Tennessee ($3.70), South Carolina ($3.71), Kentucky ($3.72), Oklahoma ($3.75), Alabama ($3.76), and North Carolina ($3.76).
Electric
The nation’s top 10 most expensive states for public charging per kilowatt hour are West Virginia (52 cents), Hawaii (51 cents), Alaska (49 cents), California (47 cents), New Hampshire (47 cents), Louisiana (46 cents), New Jersey (45 cents), Illinois (45 cents), Arkansas (45 cents), and North Dakota (44 cents).
The nation’s top 10 least expensive states for public charging per kilowatt hour are Kansas (30 cents), Missouri (32 cents), Iowa (33 cents), Utah (34 cents), Maryland (34 cents), South Dakota (35 cents), Nebraska (35 cents), Vermont (36 cents), New Mexico (37 cents), and Minnesota (38 cents).
