Majority of motorists paying more to fill-up at the pump this week

(February 25, 2020) More than half of all state gas price averages increased as much as three cents in the last week. The jumps, which caused the national gas price average to increase by a penny to $2.47, was caused by a decrease in U.S. gasoline stocks and increases in demand.

The Energy Information Administration’s (EIA) latest data show total domestic gasoline stocks decreased by 2 million barrels to 259.1 million barrels, while demand increased from 8.72 million barrels a day to 8.92 million barrels a day. Some of the decrease in stocks can be attributed to refinery maintenance.

“Gasoline prices are likely to fluctuate in the coming weeks, but not drastically, as the winter driving season nears its end and refineries undergo maintenance,” said Jeanette Casselano, AAA spokesperson. “This is the typical trend this time of year.”

Today’s national average is six cents cheaper than last month and eight cents more expensive than last year.

Quick Stats

    The nation’s top 10 largest weekly increases are: Delaware (+13 cents), Missouri (+10 cents), Texas (+9 cents), Florida (+8 cents), Illinois (+8 cents), Kentucky (+8 cents), Maryland (+8 cents), New Mexico (+7 cents), Nebraska (+6 cents) and Oklahoma (+6 cents).

    The nation’s top 10 least expensive markets are: Mississippi ($2.13), Texas ($2.16), Louisiana ($2.16), Missouri ($2.19), Arkansas ($2.19), Alabama ($2.19), Oklahoma ($2.20), South Carolina ($2.20), Kansas ($2.21) and Tennessee ($2.23).