Pump prices cheaper week-over-week for first time this year

(February 13, 2018) At $2.58, the national gas price average has decreased for the first time week-over-week this year, according to statistics compiled by AAA. Monday's price is 3 cent less than last week, 6 cents more than a month ago and 30 cents more than a year ago. Motorists can find gas for $2.50 or less at 53 percent of gas stations across the country.

“Gas price averages are less expensive for 78 percent of states compared to last Monday. Motorist filling up in the Midwest, South and East Coast are most likely to see the positive change at the pump,” said AAA's Jeanette Casselano.

“Unfortunately, it’s too early to know if this one-week decline is the start of a cheaper gas price trend.”

Consumer gasoline demand and gasoline inventories increased according to the latest Energy Information Administration (EIA) reports. Hitting its highest level this year, gasoline demand registered at 9.1 million barrels per day, a 169,000 barrel a day increase year-over year. Total U.S. gasoline inventories built by 3.4 million barrels to total 245.5 million bbl, which sits about 1.4 million bbl above the five-year average.

Quick Stats

The largest weekly changes in the nation’s top 10 markets are: Indiana (-14 cents), Michigan (-11 cents), Kentucky (-9 cents), Ohio (-8 cents), Illinois (-6 cents), Utah (+6 cents), Hawaii (+5 cents), Missouri (-4 cents), Maryland (-4 cents) and Florida (+4 cents).
The nation’s top 10 most expensive markets are: Hawaii ($3.44), California ($3.35), Alaska ($3.04), Washington ($3.00), Oregon ($2.89), Pennsylvania ($2.86), Nevada ($2.78), Washington, D.C. ($2.77), New York ($2.76) and Connecticut ($2.74).