(October 25, 2022) WASHINGTON, D.C. —The national average pump price fell nine cents over the past week to hit $3.79. It has dropped daily since October 11, primarily due to lower oil prices and fewer drivers than usual fueling up.

“Global recession fears coupled with the Biden Administration’s plan to continue tapping the Strategic Petroleum Reserve into December has helped temper oil prices,” said Andrew Gross, AAA spokesperson. “This will help take the pressure off pump prices, benefitting drivers and their wallets.”

According to recent data from the Energy Information Administration (EIA), gas demand increased slightly from 8.28 million barrels a day to 8.68 million barrels a day last week. Total domestic gasoline stocks decreased marginally from 209.5 million barrels to 209.4 million barrels. Although gasoline demand is up slightly, it remains nearly 1 million barrels lower than this date last year. If demand remains low and oil prices don’t spike, pump prices will likely keep falling.

Today’s national average of $3.79 is nine cents higher than a month ago and 41 cents more than a year ago.

Quick Stats

The nation’s top 10 largest weekly decreases: Alaska (−33 cents), California (−30 cents), Oregon (−26 cents), Washington (−24 cents), Nevada (−20 cents), Indiana (−15 cents), Michigan (−15 cents), Wisconsin (−14 cents), Ohio (−13 cents) and Illinois (−11 cents).

The nation’s top 10 least expensive markets: Georgia ($3.20), Texas ($3.20), Mississippi ($3.27), Arkansas ($3.30), South Carolina ($3.31), Tennessee ($3.31), Louisiana ($3.34), Florida ($3.35), Alabama ($3.37) and Missouri ($3.40).