After a record high in mid-March, gas costs have eased in recent weeks. According to AAA, the average price at the pump on Friday was about $4.14 a gallon, which is 8 cents lower than a week ago and 19 cents cheaper than the all-time high of $4.33 on March 11.
But it’s still 50 cents higher than it was a year ago. And as demand picks up with warmer weather, prices are likely to skyrocket across the US this summer.
Of course, not everyone is paying the same price: From state to state, the average price of gasoline ranges from $3.70 per gallon to about $5.80. In a year, that difference adds up to $1,638 for a driver who shuts down his tank once a week.
Here’s what you need to know about petrol prices, including where they are highest and lowest.
Which States Pay the Most for Gas?
Here are the five most expensive states to buy gas, according to AAA data collected on April 8, 2022.
Gas Average in the Sunshine State $5.79 A gallon, more than anywhere else in the country. And that’s just the statewide average: in Los Angeles County it’s $5.89Whereas in Inyo County the average is $5.96, In Mono County in east-central California, one of the state’s least populated areas, the gas average is $6.58 One gallon, the most in America.
According to the Energy Information Administration, prices are relatively high because California has more stringent environmental requirements for the fuel than other states. To cover costs at the pump, California Gov. Gavin NewsomFor families with a state-registered car, up to $800 for two cars.
The cost of filling the tank is approx. $5.24 Average one gallon in Hawaii. That’s 53 percent more than a month ago and $1.53 more than a year ago.
The average price factors in the state’s gas tax at 16 cents per gallon, plus the individual counties’ fuel charges, which range from 16 to 23 cents.
do you feel lucky? If you had to pay you probably wouldn’t $5.13 Average gas price in a gallon, Nevada. That’s $1.79 per gallon, compared to a year ago. According to economist John Restrepo, Nevada gas prices are high because the West Coast has reduced its refinery capacity over the years.
“We already had a supply crunch because of COVID,” Restrepo told Nevada Public Radio. “With all the incentives we have, there’s a huge increase in demand.”
a gallon of regular cost approx $4.70Down 3 cents from a week ago but up $1.57 from a year ago.
“We’re going to have to get used to the volatility for a while,” Larry Persili, former federal coordinator for the Alaska Natural Gas Transportation Projects, told Alaska Public Radio.
If Alaska didn’t have the lowest fuel tax in the US, the price would have been higher—just under 8 cents a gallon.
In the Evergreen State, a Gallon of Gas Will Set You Back Approx. $4.69, on average, 3 cents less than last week. Unlike other regions, lawmakers in Washington have not proposed specific legislation to stop the state gas tax, and Gov.
Which state has the cheapest gas?
Here are the five least expensive states to buy gas, according to AAA data collected on April 8.
Average $3.70 One gallon, Missouri has the cheapest gas in America. In part, that’s because the state’s fuel tax is just 19.5 cents per gallon. Even in the state’s largest city, St. Louis, the price of petrol is $3.80 one gallon.
Kansas also has a low motor fuel tax, only 24 cents a gallon, so it’s no surprise that it’s the second cheapest gas in the US, which averages $3.71 one gallon.
In Oklahoma, a gallon of gas costs just $3.72, down 7 cents from a week ago. In the capital, Oklahoma City, regular gasoline is still $3.75 one gallon.
you will pay $3.74 One gallon to fill in a natural state, Currently, Green County has the lowest price, average $3.50, according to Kark. Southeast Arkansas’ Lafayette County has the highest: $4.03 per gallon.
In Texas, the price of gas fell a little less than 2 cents from yesterday $3.75 one gallon. Even at that relatively reasonable rate, some Texans are crossing the border into Mexico for cheap fuel. Jonathan Rivas, manager of a gas station in Juarez, near El Paso, where the gas is $3.86“We’ve seen more traffic, more people with Texas license plates,” he told the El Paso Times.
What is the government doing to bring down gas prices?
President Joe Biden is releasing one million barrels of oil a day from the US Strategic Petroleum Reserve over the next six months. According to the White House, the unprecedented evacuation could push gasoline prices down by between 10 and 35 cents a gallon in the coming weeks.
But insiders say it won’t move the needle much.
Scott Sheffield, chief executive of Pioneer Natural Resources, a Texas oil company, told The New York Times, “It will drive the price of oil down a bit and encourage more demand.” “But it’s still a band-aid on a significant shortage of supplies.”
The White House is also pressuring US oil companies to increase drilling and production. Criticizing energy concerns for “sitting” on more than 12 million acres of federal land and 9,000 approved production permits, the administration wants companies to face fines if they leave wells leased from public land unused. Huh.
There is also the option of obtaining energy products from other sources. The US is working to improve ties with Venezuela, which has been banned from selling oil to the US since 2018, and is negotiating another nuclear non-proliferation treaty with Iran, which would return Iranian oil to the market. will bring.
Individually, Connecticut, Maryland and GeorgiaTo help consumers, and at least 20 other states are considering similar steps. A bill in Congress would block the federal fuel tax, though it faces stiff competition.
Has gas become so expensive?
The price of gas is inextricably linked to the cost of crude oil, from which it is refined. Every $10 increase in the price of a barrel of crude oil adds about a quarter to the price of the gallon at the pump.
As part of the ongoing sanctions on the invasion of Ukraine, Biden announced, Even though the US does not import much crude oil from Russia, oil is traded in the global market. Any wave affects prices around the world.
The US Energy Information Administration forecasts that Brent crude oil, the international benchmark, will remain above $100 for the remainder of 2022.
But Troy Vincent, senior market analyst at energy analysis firm DTN, says thatFuel prices are not the only reason for the rise. Gas demand plummeted during the pandemic, forcing oil producers to put the brakes on production. Even though demand is close to pre-pandemic levels, OPEC nations, US oil companies and other producers still shy away from increasing production.
“We’ve had a supply and demand imbalance for some time,” Vincent said. “And it will be, even if this conflict goes away,” he said.
In addition, the price of gas generally becomes more expensive as companies switch to summer blends of gasoline. In hot weather months, gasoline is reformatted to prevent excessive evaporation. More expensive to refine and distribute, these summer blends can cost 25 to 75 cents more than winter blends.
How Can Consumers Save at a Gas Station?
There’s not much we can do to change the price of gas, but drivers can cut back on non-essential trips and shop around for the best price, even if it’s not inconvenient. Even then you can cross the state border.
apps likeScan for the best gas prices in your area. others, such as , Track your car’s gas mileage and it can help you determine if it’s getting good fuel economy. In addition, many gas station chains have loyalty programs, and Those who give cash back for gas purchases.
Vincent of DTN advises against hoarding gas or other extreme measures but encourages a higher budget for gas. That said, high energy prices have been a major contributor to inflation for some time, and it will not go away immediately.
“When the price of crude oil rises, the prices at the pump reflect it very quickly,” he said. “But gas prices tend to last longer even when crude falls.”