WASHINGTON, D.C. — Gasoline demand in the United States has risen to 9.1 million barrels per day, the second highest point since mid-March 2020, as drivers fill up their gas tanks more frequently.
This is also the highest spring demand reading released by the Energy Information Administration in two years, approximately 3 percent below the same week in 2019.
While both demand and supply have steadily increased over the past five weeks, weekly gasoline supply builds are trending less substantial, according to AAA. Supply saw growth of just 100,000 barrels of oil to 234.9 million barrels, most likely due to high consumer demand.
"The jump in demand to 9.1 million [barrels per day] combined with the small increase in supply pushed the national gas price average 2 cents more expensive on the week to $2.88," said Jeanette McGee, AAA spokesperson. "This is the largest one-week national jump we've seen in five weeks."
Strong refinery utilization and cheaper crude oil prices are the main factors keeping gasoline price jumps incremental. Thirty-five state price averages increased on the week, but the majority saw increases of just 1 to 3 cents.
The 10 largest weekly price increases occurred in Ohio (12 cents), Delaware (8 cents), Kansas (5 cents), Nevada (5 cents), Maryland (4 cents), New Jersey (4 cents), Montana (4 cents), Idaho (4 cents), Washington (4 cents) and Michigan (4 cents).
The current 10 least expensive markets in the country are Mississippi ($2.56), Texas ($2.58), South Carolina ($2.59), Louisiana ($2.60), North Carolina ($2.62), Alabama ($2.63), Oklahoma ($2.65), Missouri ($2.66), Arkansas ($2.68) and Tennessee ($2.68).