Pump prices pause as a hurricane comes ashore
(September 27, 20240 WASHINGTON, D.C. — The national average for a gallon of gas wobbled by a few cents before ending up where it started a week ago at $3.22. Pump prices have been sliding recently, but the rapid intensification of Hurricane Helene appears to be having an effect.
“Hurricane Helene will likely impact gasoline demand, but not supply,” said Andrew Gross, AAA spokesperson. “The storm is missing the Gulf’s oil production and refining centers as it lumbers through the Southeast. But power outages, structural damage, and road flooding will hinder people from fueling up for a few days. So any impact on the national average will probably be fleeting.”
According to new data from the Energy Information Administration (EIA), gas demand rose from 8.77 million barrels a day last week to 9.20. Meanwhile, total domestic gasoline stocks fell slightly from 221.6 million barrels to 220.1, while gasoline production increased last week, averaging 9.8 million barrels daily. Tepid gasoline demand and low oil costs will likely keep pump prices sliding.
Today’s national average for a gallon of gas is $3.22, 13 cents less than a month ago and 61 cents less than a year ago.
Quick stats
The nation’s top 10 most expensive gasoline markets are California ($4.71), Hawaii ($4.60), Washington ($4.08), Nevada ($3.95), Alaska ($3.68), Oregon ($3.68, Utah ($3.58), Idaho ($3.51), Colorado ($3.49), and Illinois ($3.46).
The nation’s top 10 least expensive gasoline markets are Mississippi ($2.71), Texas ($2.77), Louisiana ($2.77), Tennessee ($2.79), Alabama ($2.80), Oklahoma ($2.82), Arkansas ($2.86), Missouri ($2.88), South Carolina ($2.88), and Kansas ($2.90).