As gas prices keep falling this summer, the big question is how low will they go? This past week, the national average for a gallon of regular fell three cents to $3.13. You’d have to go back to 2020 for a lower national average on August 21 – that day the price was $2.18. With gas prices for this day the lowest they’ve been in 5 years, some are wondering if the national average will go below $3 a gallon in the coming weeks. There are too many variables to make a prediction; the oil market is too volatile. But if crude oil prices remain low and barring any major geopolitical events or tropical storms hitting the Gulf Coast, it’s safe to say drivers could continue to see cheaper prices at the pump as summer winds down. 

Today’s National Average: $3.137 

One Week Ago: $3.160 

One Month Ago: $3.140 

One Year Ago: $3.397 

According to new data from the Energy Information Administration (EIA), gasoline demand decreased from 9 million b/d last week to 8.84 million. Total domestic gasoline supply decreased from 226.3 million barrels to 223.6. Gasoline production decreased last week, averaging 9.6 million barrels per day. 

Oil Market Dynamics 

At the close of Wednesday’s formal trading session, WTI rose 86 cents to settle at $63.21 a barrel. The EIA reports crude oil inventories decreased by 6 million barrels from the previous week. At 420.7 million barrels, U.S. crude oil inventories are about 6% below the five-year average for this time of year. 

EV Charging 

The national average per kilowatt hour of electricity at a public EV charging station stayed the same this past week at 36 cents. 

State Stats 

Gas 

The nation’s top 10 most expensive gasoline markets are California ($4.49), Hawaii ($4.46), Washington ($4.39), Oregon ($3.97), Alaska ($3.76), Nevada ($3.73), Idaho ($3.50), Illinois ($3.39), Utah ($3.32), and Arizona ($3.30). 

The nation’s top 10 least expensive gasoline markets are Mississippi ($2.68), Oklahoma ($2.70), Louisiana ($2.72), Texas ($2.74), Alabama ($2.75), Tennessee ($2.77), Arkansas ($2.80), South Carolina ($2.81), Kansas ($2.83), and Missouri ($2.83).  

Electric 

The nation’s top 10 most expensive states for public charging per kilowatt hour are Alaska (51 cents), West Virginia (48 cents), Hawaii (46 cents), South Carolina (44 cents), Tennessee (43 cents), New Hampshire (43 cents), Montana (43 cents), Arkansas (42 cents), North Dakota (42 cents), and Alabama (42 cents). 

The nation’s top 10 least expensive states for public charging per kilowatt hour are Kansas (25 cents), Missouri (27 cents), Maryland (27 cents), Utah (28 cents), Nebraska (29 cents), Delaware (31 cents), Vermont (32 cents), North Carolina (33 cents), Washington, DC (33 cents), and Colorado (33 cents). 

Drivers can find current gas and electric charging prices along their route using the AAA TripTik Travel planner.