​Gas Prices Holding Steady Despite Geopolitical Concerns

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​Gas Prices Holding Steady Despite Geopolitical Concerns

01/14/2020
gas prices 1/1/2020_AAA

ORLANDO, Fla. — Despite crude oil price fluctuation and growing geopolitical concerns, the national gas average has held steady at $2.58 since the beginning of the year.

Today's national average is 2 cents more than last month and 34 cents more expensive than the beginning of 2019.

"A healthy and growing level of domestic gasoline stocks alongside decreasing demand are two factors helping to minimize gas price fluctuations," said Jeanette Casselano, AAA spokesperson. "In the last week, about 32 states saw pump prices push less expensive by just a penny or two or saw no change at all."

The nation's top 10 largest weekly changes are: Michigan, up 7 cents; Delaware, down 5 cents; Minnesota, up 4 cents; Ohio, up 4 cents; Florida, down 4 cents; Utah, down 4 cents; Alaska up 3 cents; Indiana up 3 cents; Idaho down 3 cents; and Tennessee, down 3 cents.

On the flip, the nation’s top 10 least expensive markets are: Missouri ($2.20); Oklahoma ($2.26); Texas ($2.27); Mississippi ($2.28); Arkansas ($2.28); Kansas ($2.29); Louisiana ($2.30); South Carolina ($2.34); Alabama ($2.35); and Tennessee ($2.36).

Broken down by region, fuel prices look like this:

Great Lakes & Central States

The Great Lakes and Central States are seeing typical regional gas price volatility. Four states land on the top 10 list for largest weekly changes, all with pump price jumps: Michigan, Minnesota, Ohio and Indiana. While not on the top 10 least expensive list, Kentucky ($2.38) and West Virginia ($2.57) had the largest pump price decreases on the week in the region, with 3-cent drops.

Motorists in the region are paying 31 to 55 cents more to fill-up compared to this time last year. Illinois (up 56 cents) and Ohio (up 55 cents) carry the largest year-over-year difference in the country and region.

South & Southeast

Drivers in the South and Southeast are paying less to fill-up on the week, with Florida seeing the largest decrease followed by Tennessee. All other states saw prices drop by a few cents or hold steady. Regional gas price averages range from as cheap as $2.26 in Oklahoma to as expensive as $2.48 in the sunshine state.

Mid-Atlantic & Northeast

On the week, Delaware has the largest decline of any state average in the region and the nation. All states in the Mid-Atlantic and Northeast region saw gas prices decrease or hold steady with the exception of Rhode Island (up 1 cent) and Massachusetts (up 1 cent).

At $2.37, Virginia carries the cheapest gas price in the region and ranks as the 11th least expensive average in the country. Meanwhile, Pennsylvania ($2.81), Washington, D.C. ($2.72) and New York ($2.72) carry the most expensive averages in the region and fall among the top 10 highest state averages in the country.  

West Coast

Pump prices in the region have mostly dropped. On the week, Washington (down 2 cents) saw the largest decrease in the region, while Alaska (up 3 cents) saw the largest increase. Hawaii ($3.65) and California ($3.53) remain the most expensive markets in the country. Washington ($3.13), Nevada ($3), Oregon ($3), Alaska ($2.99) and Arizona ($2.83) follow.

Rockies

Utah ($2.65), down four cents on the week and 17 cents from a month ago, and Idaho ($2.62), down 3 cents on the week and 23 cents from a month ago, rank among the top ten states in the country with the largest weekly and monthly decreases. Colorado ($2.63) and Wyoming ($2.61) also land on the largest monthly changes list, down 14 cents and 9 cents, respectively.

On the week, gas prices decreased as much as 4 cents across the region. While gas prices are cheaper on the week and month, compared to a year ago motorists are paying more to fill-up. In Colorado and Montana, yearly averages are 25-50 cents more expensive, but are only 10-15 cents more expensive in Utah, Idaho and Wyoming.

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