National gas price average more than $1 a gallon cheaper than year ago

(April 21, 2020) On the week, the national gas price average decreased by a nickel pushing the year-over-year savings to $1.03 a gallon. Today, 20 states have pump price averages that are $1 a gallon or more cheaper compared to last year, with another dozen states within a dime of reaching this mark, according to AAA's weekly gasoline report.

“One in four U.S. gas stations is selling gas for $1.49 or less,” said Jeanette Casselano, AAA spokesperson. “Even with regional refinery rates dropping, we will continue to see gas prices decrease though potentially at a slower rate than the past few weeks.”

On the week, U.S. gasoline demand was stable at 5.1 million barrels a day as refinery rates dipped down to 69%, a level not reported by the Energy Information Administration (EIA) in more than a decade. Despite lower run rates amid low demand, gasoline stocks increased. Total U.S. stock levels measure at a record 262 million barrels — the highest weekly domestic stock level ever recorded by EIA, since it began reporting the data in 1990.
 
   •    The nation’s top 10 largest weekly decreases are: Alaska (-10 cents), Idaho (-10 cents), Wisconsin (-8 cents), Nevada (-7 cents), Arizona (-7 cents), Minnesota (-7 cents), Washington (-7 cents), Kansas (-7 cents), California (-6 cents) and Michigan (-6 cents).

    •    The nation’s top 10 least expensive markets are: Wisconsin ($1.22), Oklahoma ($1.38), Ohio ($1.41), Michigan ($1.46), Kentucky ($1.46), Arkansas ($1.47), Indiana ($1.48), Iowa ($1.49), Missouri ($1.52) and Mississippi ($1.53). 



Great Lakes and Central States

Pump prices continue to decrease across the Great Lakes and Central States. On the week, state averages are between two and eight cents less. Wisconsin (-8 cents) and Minnesota (-7 cents) saw the biggest weekly decreases in the region.

Wisconsin ($1.22) carries the cheapest gas price average in the region, state and country. In fact, it carries the biggest year-over-year difference (-$1.60) and the largest month-over-month change (-68 cents) in the region and the country.

South and Southeast

The majority of states in the South and Southeast saw gas price averages decrease by less than a nickel on the week. State averages range between $1.38 -$1.81. On the top 10 list for cheapest averages in the country: Oklahoma ($1.38), Arkansas ($1.47) and Mississippi ($1.53). In the region, New Mexico ($1.78) and Florida ($1.81) carry the highest averages.

Mid-Atlantic and Northeast

Mid-Atlantic and Northeast state averages are two to six cents cheaper on the week. With the latest declines, only four states in the region carry averages of more than $2/gallon: New York ($2.22), Washington, D.C. ($2.16), Pennsylvania ($2.08) and New Jersey ($2.05). At $1.68, North Carolina has the lowest state average in the region.

Rockies

Idaho ($1.92) now joins Wyoming ($1.94), Montana ($1.87) and Colorado ($1.77) on the list of states with averages of less than $2/gallon. Motorists in Utah are paying the most to fill-up at $2.11. On the week, state averages in the Rockies region decreased between three and 11 cents. However, compared to a month ago, motorists are saving as much as 58-cents to fill up and nearly $1/gallon compared to last year at this time.

West Coast

The West Coast region continues to see significant decreases despite carrying some of the most expensive averages in the country. On the week, Alaska (-10 cents) saw the largest decline in the region and the country. Hawaii ($3.20) and California ($2.81) remain the most expensive markets in the country. Washington ($2.52), Oregon ($2.48), Nevada ($2.38), Arizona ($2.21) and Alaska ($2.11) follow.