Gas pump prices pushing cheaper again

(August 11, 2020) On the week, the majority of states saw gas prices decrease minimally — by one to two cents or saw no change at the pump. Though low, the volatility was enough to drive the national average down a penny from last Monday to $2.17. Today’s average is two cents less than last month and 49 cents cheaper than a year ago, according to statistics compiled by AAA.

“As we move into the second week of the August, it is pricing out to be the second cheapest start to the month in more than a decade,” said Jeanette Casselano, AAA spokesperson. “Gas prices have high potential to push cheaper, especially with many school districts planning for virtual learning. This could drive demand down in the weeks ahead as school starts at-home.”

In the latest Energy Information Administration (EIA) weekly report, gas demand fell from 8.8 million barrels a day to 8.6 million barrels a day while stocks held steady at 247 million barrels.

Quick Stats

    •    The nation’s top 10 largest weekly changes: Utah (+9 cents), Michigan (+6 cents), Kentucky (-4 cents), Ohio (+3 cents), Florida (-3 cents), Tennessee (-3 cents), West Virginia (-3 cents), Pennsylvania (+2 cents), Texas (-2 cents) and Oklahoma (-2 cents).

    •    The nation’s top 10 least expensive markets: Mississippi ($1.81), Texas ($1.84), Louisiana ($1.84), Oklahoma ($1.86), Arkansas ($1.86), Alabama ($1.87), Missouri ($1.87), South Carolina ($1.88), Tennessee ($1.89) and North Carolina ($1.94).