(December 14, 2021) WASHINGTON, D.C. — Pump prices continue their slow seasonal descent, despite a slight rebound in oil prices due to waning fears of a global slowdown caused by the COVID-19 omicron variant. The national average for a gallon of gas fell two cents on the week to $3.33. But a gallon of gas is still $1.17 higher than at this time a year ago.

“Gas prices tend to fall a bit this time of year due to the shorter days and less robust demand,” said Andrew Gross, AAA spokesperson. “And this trend was assisted by the recent steep drop in oil prices due to fears over the omicron variant. But the variant’s impact on pricing appears to be fading, so it remains to be seen if oil prices stabilize or move higher.”

According to new data from the Energy Information Administration (EIA), total domestic gasoline stocks increased by nearly 4 million barrels to 219,304 million barrels last week. Meanwhile,  gasoline demand was relatively flat, creeping upwards from 8.8 million barrels a day to 8.9 million barrels a day. The slight increase in demand was countered by crude prices in the low $70s barrel

Today’s national average of $3.33 is eight cents less than a month ago and $1.17 more than a year ago.

Quick Stats

The nation’s top 10 largest weekly decreases: Michigan (−6 cents), Indiana (−5 cents), Alabama (−5 cents), Illinois (−4 cents), Texas (−4 cents), Missouri (−4 cents), South Carolina (−4 cents), New Mexico (−4 cents), Wyoming (−4 cents) and North Dakota (−4 cents).

The nation’s top 10 most expensive markets: California ($4.67), Hawaii ($4.33), Nevada ($3.88), Washington ($3.87), Oregon ($3.78), Arizona ($3.78), Alaska ($3.71), Idaho ($3.62), Utah ($3.58) and Pennsylvania ($3.56).