Gas prices down after 3 weeks of increases

Gas prices are slowly falling after nearly a month of hikes.

According to the American Automobile Association (AAA), the average retail price of gas is now $ 3,888 on Monday, October 17, 2022, down from last week’s $ 3,919 price.

The slight fall in the price is attributed to the lack of demand at the moment.



Gas prices slide after three weeks of hike

While gas prices have fallen by an average of three cents this time, they remain much higher than last month’s $ 3,682 and even higher than last year’s price of $ 3,319.

Nationwide, gas prices have fluctuated from a high of $ 6,059 to a low of $ 3,253. Over the past week, gas prices have seen prices soar from 25 cents to less than a cent across the nation.

Since last Monday, these states with the highest gas prices have seen prices drop, California (-27 cents), Alaska (-12 cents), Oregon (-18 cents), Nevada (-17 cents), Washington ( -14 cents), Arizona (-10 cents), Idaho (-1), Illinois (-7 cents) and Michigan (-15 cents). The state of Hawaii has seen a continued rise in gas prices over the past week with retail gas prices averaging at $ 5,223 versus $ 5,216. As has been the case for some time now, California has the most expensive gas price with the average retail price for a gallon of gas falling to $ 6,059 from last week’s $ 6,330. California’s Alpine County has the highest gas price of 7,799 per gallon.

Higher gas prices

State Regular Middle class Premium diesel
California 6.08 6.31 6,447 6,647
Alaska 5,444 5,675 5,848 5.43
Oregon 5,358 5,608 5,791 5,717
Nevada 5,273 5,531 5,736 5,604
Washington 5,271 5.52 5,696 5,733

The states of Georgia, Mississippi, Texas, Louisiana, Florida, South Carolina, Tennessee, and Alabama have the cheapest gas prices in the nation. Although they have seen gas prices rise between two cents and eight cents in a single week. Georgia offers the lowest gas price of $ 3,253 in the United States. Schley County in Georgia has the lowest gas price in the nation with one gallon of gas retailing for $ 3,099.

Gas prices in Montana, North Carolina, Arkansas and Idaho remained stable with prices remaining stable with prices falling by an average of five cents. The same can be said for the District of Columbia, Hawaii and South Carolina, despite a modest increase in gas prices of less than a penny in just a week.

The lowest gas prices

State Regular Middle class Premium diesel
Georgia 3,256 3.631 4.01 4,819
Texas 3.301 3.671 4.008 4,799
Mississippi 3,331 3,683 4,046 4,858
South Carolina 3,377 3,746 4,094 4,965
Arkansas 3,382 3,744 4.08 4,934

Why are gas prices falling?

According to the latest statistics from the Energy Information Administration, gas demand fell nationwide from 9.47 million barrels per day to 8.28 million barrels per day, while national gasoline stocks increased by 2 million. barrels to 209.5 million barrels.

Gas price trend

Regular Middle class Premium diesel E85
Current media 3,888 4,342 4,654 5,284 3.201
Media yesterday 3,888 4,348 4,659 5,271 3,207
Average week ago 3,919 4.37 4,681 5,064 3,225
Month ago Average 3,682 4.131 4,442 4,965 3,021
Year ago Media 3,319 3,656 3,931 3,538 2,835

The lower demand for gasoline, amid the increase in supply and fluctuations in oil prices, contributed to the decline in the national average. Demand for crude oil is also expected to decline with the ongoing COVID blockades in China, contributing to concerns that oil demand may further decline and push prices lower.

State gas prices October 17, 2022

State Regular Middle class Premium diesel
Alaska 5,444 5,675 5,848 5.43
Alabama 3,437 3,823 4,194 4.97
Arkansas 3,382 3,744 4.08 4,934
Arizona 4,473 4,798 5,064 5,344
California 6.08 6.31 6,447 6,647
Colorado 3.699 4,032 4,337 5,044
Connecticut 3,491 4.004 4,407 5.61
District of Colombia 3,817 4,408 4,816 5.18
Delaware 3.671 4,096 4,389 5,328
Florida 3,403 3.798 4.112 5,157
Georgia 3,256 3.631 4.01 4,819
Hawaii 5,214 5,449 5.68 6,114
Iowa 3,654 3,922 4,379 5,045
Idaho 4,407 4,595 4,825 5,187
Illinois 4,336 4,813 5,221 5,355
Indiana 4,084 4,539 4,924 5,504
Kansas 3,502 3,779 4,085 5,039
Kentucky 3,485 3.89 4,249 5.105
Louisiana 3,401 3,784 4.139 4,886
Massachusetts 3,601 4,154 4,463 5,436
Maryland 3,754 4.25 4,536 5,339
Maine 3,659 4,014 4,384 5,534
Michigan 4,207 4,697 5.119 5,474
Minnesota 3,754 4,071 4,443 5,154
Missouri 3,466 3.71 4,046 4,978
Mississippi 3,331 3,683 4,046 4,858
Montana 4,062 4,341 4.61 5,178
North Carolina 3,504 3,864 4,224 5,014
North Dakota 3.715 4,028 4,404 5.16
Nebraska 3.632 3,844 4,291 5,006
New Hampshire 3,517 3.993 4,366 5,357
New Jersey 3.698 4,232 4,503 5,507
New Mexico 3,764 4.108 4,389 4,992
Nevada 5,273 5,531 5,736 5,604
New York 3.676 4.113 4,466 5,487
Ohio 3,813 4,231 4,627 5,449
Oklahoma 3.52 3,834 4,072 4,913
Oregon 5,358 5,608 5,791 5,717
Pennsylvania 3,954 4,313 4,586 5,668
Rhode Island 3,544 4,146 4,428 5,548
South Carolina 3,377 3,746 4,094 4,965
South Dakota 3,789 3,966 4,428 5,049
Tennessee 3,383 3,755 4.121 5
Texas 3.301 3.671 4.008 4,799
Utah 4,212 4,425 4,626 5.12
Virginia 3.57 3,982 4.306 5.106
Vermont 3,796 4.33 4,748 5.51
Washington 5,271 5.52 5,696 5,733
Wisconsin 3.77 4,216 4,628 5.15
West Virginia 3,567 3,846 4.114 5.308
Wyoming 3.907 4.124 4,394 5,214

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