(August 23, 2024) — Reaching a price point last seen on March 6, the national average for a gallon of gas fell six cents to $3.38 since last week. “The clouds of war overseas are less dark at the moment and the Atlantic is quiet now too, which is taking pressure off of oil prices,” said Andrew Gross, AAA spokesperson. “More retail locations east of the Rockies are selling gas below $3 a gallon.  Will this trend continue through the end of the year?"

According to new data from the Energy Information Administration (EIA), gas demand crept higher last week from 9.04 million barrels a day to 9.19. Meanwhile, total domestic gasoline stocks fell from 222.2 to 220.6 million barrels, but gasoline production increased, averaging 9.8 million daily. Mild gasoline demand, steady supply, and low oil costs may cause pump prices to slide further.  

Today’s national average for a gallon of gas is $3.38, 12 cents less than a month ago and 47 cents less than a year ago.



Quick stats

The nation’s top 10 most expensive gasoline markets are Hawaii ($4.65), California ($4.59), Washington ($4.19), Nevada ($3.95), Oregon ($3.83), Alaska ($3.75), Illinois ($3.73), Washington, D.C. ($3.64), Idaho ($3.58), and Utah ($3.57)

The nation’s top 10 least expensive gasoline markets are Mississippi ($2.93), Oklahoma ($2.98), Tennessee ($2.99), Texas ($3.00), Louisiana ($3.03), South Carolina ($3.03), Alabama ($3.04), Arkansas ($3.07), Kansas ($3.10), and Missouri ($3.11).