National Gas Prices Keep Inching Higher
WASHINGTON, D.C. — The national average price of gas is continuing to rise, reaching $2.37 per gallon of regular gas as of Jan. 9. This marks the most expensive average since June 2016.
Gas prices have risen by 3 cents per gallon week over week and 17 cents month over month, and retail prices have increased for 40 of the past 42 days due to market reactions to the OPEC oil cut agreement, according to AAA.
The top 10 least expensive markets are South Carolina ($2.14), Tennessee ($2.14), Mississippi ($2.15), Alabama ($2.16), Arizona ($2.16), Arkansas ($2.16), Texas ($2.17), Oklahoma ($2.17), Louisiana ($2.18) and Missouri ($2.18). The biggest weekly price increases occurred in Michigan (9 cents), Pennsylvania (8 cents), Delaware (8 cents), Oregon (7 cents), West Virginia (6 cents), Washington (6 cents), Alaska (6 cents), Ohio (5 cents), Virginia (5 cents) and Maryland (5 cents).
On the West Coast, multiple California oil refineries faced issues over the past week, which could lead to price spikes due to reduced gasoline production and relative isolation from other markets. Some states in the region have some of the highest average prices in the United States, including Hawaii ($3.03), California ($2.81), Alaska ($2.74), Washington ($2.73) and Oregon ($2.55).
Drivers in the South are seeing some of the lowest prices at the pump, but every state in this region except Kentucky and Florida have seen prices climb higher week over week. Despite this, the weekly increases were three cents or less in most states, and the steady supply of gasoline means prices are expected to remain relatively low over the next month compared to other regions.
In the Midwest, gas prices remain volatile despite abundant gas inventories and production from regional refineries, AAA said. The highest weekly price increases occurred in Michigan (9 cents) and Ohio (5 cents), while states like Indiana (7 cents) and Illinois (1 cent) saw a decline in prices. Monthly price increases in Michigan (34 cents), Wisconsin (28 cents) Illinois (27 cents), Ohio (27 cents), Indiana (26 cents) and Minnesota (26 cents) were among the country's top 10 largest increases, and every state in the Midwest posted double-digit increases over the same time period.
In the Mid-Atlantic and Northeast, retail averages steadily increased week-over-week, rising by a penny or more in most states. Only Pennsylvania ($2.65), Washington, D.C. ($2.58) and New York ($2.54) have an average price above the $2.50 per gallon benchmark.