(January 31, 2023) WASHINGTON, D.C. —The recent run of daily one- to four-cent price increases slowed heading into the weekend, with prices now dipping slightly to start the week. However, increased demand and higher global oil prices pushed the national average for a gallon of gas up eight cents since last week to $3.50, according to AAA in its weekly assessment.

“January’s weather was relatively mild in much of the nation, which led to more drivers hitting the road. However, a return of wintery conditions in February may see a revival of seasonal driving patterns,” said Andrew Gross, AAA spokesperson, “but with the cost of oil stubbornly hovering around $80 per barrel, drivers probably won’t catch a big break at the pump over the next week or two.”

According to data from the Energy Information Administration, gas demand rose slightly from 8.05 to 8.14 million barrels a day last week. Meanwhile, total domestic gasoline stocks increased by 1.7 million bbl to 232 million barrels. Rising gas demand and elevated oil prices have contributed to higher pump prices.

Today’s national average of $3.50 is 33 cents more than a month ago and 14 cents more than a year ago.

Quick stats

The nation’s top 10 largest weekly increases: Colorado (+18 cents), Florida (+15 cents), Kansas (+15 cents), Georgia (+14 cents), Tennessee (+13 cents), Illinois (+12 cents), Alabama (+12 cents), Minnesota (+12 cents), Iowa (+12 cents) and Wyoming (+11 cents).

The nation’s top 10 most expensive markets: Hawaii ($4.93), California ($4.55), Washington ($4.12), Nevada ($3.98), Colorado ($3.83), Pennsylvania ($3.79), Oregon ($3.77), Alaska ($3.74), Illinois ($3.68) and Washington, D.C. ($3.62).