AAA said Monday that after the holiday weekend which saw 49 million Americans traveling on the roadways, gas prices saw minimal fluctuation with most states seeing a decease on the week.
The national gas price average is $2.58, a penny cheaper than last week. Meanwhile, Californian’s saw their average price drop by 6-cents to $3.80.
“Gasoline stocks have steadily increased the past few weeks as gasoline demand has started to slow,” said Jeanette Casselano, AAA spokesperson. “This trend is creating cheaper gas prices for the majority of motorists.”
Today, 61% of all gas stations in the country are selling regular unleaded for $2.50 or less. On the week, gas prices are flat.
Pump prices in the region have declined on the week, with some states seeing the largest weekly drops in the country. California (-6 cents), Washington (-3 cents), Alaska (-3 cents) and Oregon (-2 cents) saw the largest decreases in the region.
California ($3.80) and Hawaii ($3.65) remain the most expensive markets in the country. Washington ($3.31), Nevada ($3.28), Oregon ($3.19), Alaska ($3.11) and Arizona ($2.91) follow.
Increased gasoline stocks have helped to put downward pressure on pump prices, as demand remains robust. According to EIA’s report for the week ending on November 22, gas stocks in the region grew by nearly 400,000 bbl, bringing the total to 28.87 million bbl. The current supply level is 1.88 million bbl higher than last year’s level at this time, which will likely continue to put downward pressure on prices throughout the week.