(January 28, 2020) The national gas price average is $2.51, which is three cents cheaper than last week, four cents less than last month, and 25 cents more than a year ago. Gas prices have continued to drop over the last week as gasoline stocks grew again, measuring at 260 million bbl – the highest stock level ever recorded by the Energy Information Administration (EIA) since it began recording the data in 1990, according to weekly statistics compiled by AAA.

“Increased total domestic stocks of gasoline have helped to ease pump prices,” said Jeanette Casselano, AAA spokesperson. “Typically, we see lower demand during this time of year. When combined with higher stock levels, pump prices usually decrease in response.”

EIA estimates that demand grew slightly from 8.56 million barrels a day to 8.66 million barrels a day. However, the current rate is lower than last year’s 8.87 million barrels a day at this time.

Quick Stats

    The nation’s top 10 largest weekly decreases are: Florida (-8 cents), Michigan (-8 cents),Pennsylvania (-6 cents), South Carolina (-6 cents), Delaware (-5 cents), North Carolina (-5 cents), Maryland (-5 cents), Louisiana (-5 cents), Texas (-4 cents) and West Virginia (-4 cents).

    The nation’s top 10 least expensive markets are: Missouri ($2.17), Texas ($2.19), Mississippi ($2.21), Oklahoma ($2.22), Louisiana ($2.22), South Carolina ($2.23), Arkansas ($2.24), Kansas ($2.24), Delaware ($2.25) and Alabama ($2.27).