National gas price average jumps four cents as demand increases

(January 17, 2017) Gas prices jumped four cents on the week landing today’s national average at $2.53. According to the Energy Information Administration (EIA), gasoline demand increased 164,000 barrels on the week to register at 8.8 million. The demand measurement is the highest demand for the first EIA report of January since 2011. The demand increase is a contributing factor to this week’s higher pump prices.

“The EIA’s gasoline demand measurement is higher than any week in January last year,” said Jeanette Casselano, AAA spokesperson. “If demand continues to climb, motorists are likely to see pump prices increase too, paving the way for even more expensive fill-ups. This month’s average is already 19-cents more than last January.”

Motorists in the Great Lakes and Central states are seeing the largest increase in gas prices on the week. Only two states, Alaska (-2 cents) and Rhode Island (-1 cent), in the country carry pump prices that are less than last week’s price.

Quick Stats

    The largest weekly changes in the top 10 markets are: Kansas (+9 cents), Kentucky (+9 cents), Indiana (+9 cents), Iowa (+9 cents), Michigan (+7 cents), Minnesota (+7 cents), Oklahoma (+7 cents), Missouri (+7 cents), Georgia (+7 cents) and Nebraska (+6 cents).

    The nation’s top 10 least expensive markets are: Texas ($2.28), Alabama ($2.28), Mississippi ($2.29), Missouri ($2.30), Arkansas ($2.30), South Carolina ($2.30), Oklahoma ($2.32), Arizona ($2.32), Louisiana ($2.33) and Virginia ($2.34).