(March 3, 2020) At $2.43, the national gas price average is just one penny more expensive than gas prices at this time last year. Gas prices have not been cheaper year-over-year since before Thanksgiving last November. Today’s average is also four cents cheaper than both a week and a month ago.

“Gas prices pushed cheaper year-over-year in the last 30 days, going from 22 cents to just one cent more expensive,” said Jeanette Casselano, AAA spokesperson.

“Healthy stock levels and cheaper crude prices have alleviated pump price pains. However, maintenance season and the upcoming switchover to summer blend could break the downward trend in coming weeks, but we are also watching the impact of the coronavirus and what that could do to demand.”

The ability to tap into robust U.S. gasoline stocks has contributed to price declines at the pump.  Stocks dipped for a second week, by 2.7 million bbl, according to the Energy Information Administration’s (EIA) latest report. Overall stock levels measure at 256.3 million barrels, which is comparable to this time last year. Demand jumped slightly above 9 million barrels a day.

Quick Stats

    The nation’s top 10 largest weekly decreases are: Ohio (-15 cents), Michigan (-11 cents), Indiana (-10 cents), Delaware (-6 cents), Florida (-6 cents), Oklahoma (-6 cents), Colorado (-5 cents), Georgia (-5 cents), Pennsylvania (-4 cents) and Texas (-4 cents).

    The nation’s top 10 least expensive markets are: Texas ($2.12), Mississippi ($2.12), Louisiana ($2.14), Oklahoma ($2.14), Missouri ($2.16), South Carolina ($2.16), Arkansas ($2.17), Alabama ($2.17), Kansas ($2.20) and Virginia ($2.21).