Home California AAA: California Paying on Average $3.51 Per Gallon, Nation at $2.47

AAA: California Paying on Average $3.51 Per Gallon, Nation at $2.47

by ECT

On Monday, AAA said the national gas price average has dropped four-cents to $2.47 while California is paying $3.51 per gallon. AAA says gas prices are 11 cents cheaper than the beginning of the year.

“Gas prices are pushing cheaper for two reasons. Crude oil prices are $10 less a barrel than one month ago and U.S. gasoline stocks sit at an all-time record high,” said Jeanette Casselano, AAA spokesperson. “Cheaper crude and healthy stock levels mean motorists can expect prices to continue to decline this month.”

Motorists in at least a dozen states can find gas for less than $2/gallon. Those gas stations are mostly found in the South and Southeast.

West Coast

Pump prices continue to drop as the region settles into the winter driving season. On the week, Hawaii (-3 cents) and Alaska (-2 cents) saw the largest decreases in the region. Hawaii ($3.63) and California ($3.51) remain the most expensive markets in the country. Washington ($3.09), Oregon ($2.98), Nevada ($2.96), Alaska ($2.93) and Arizona ($2.80) follow.

According to EIA’s latest weekly report, total gas stocks in the region increased by 100,000 bbl to 32.5 million bbl. The current supply level is approximately 300,000 bbl lower than 2019’s level at this time. Pump prices are expected to decrease this week, as winter demand remains low amid the current stock level.

Oil Market Dynamics

At the close of Friday’s formal trading session on the NYMEX, WTI dropped by 58 cents to settle at $51.56. For the second week, crude prices have decreased as a result of increased market concerns regarding the growing impact of the coronavirus on global travel. If global travel demand decreases, global crude demand would likely follow suit and result in lower global crude consumption. If market concerns regarding the virus continue to grow this week, crude prices could drop again.

Motorists can find current gas prices along their route with the free AAA Mobile app for iPhone, iPad and Android. The app can also be used to map a route, find discounts, book a hotel and access AAA roadside assistance.

Learn more at AAA.com/mobile.

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1 comment

Jg Feb 3, 2020 - 10:05 am

For the extra money of which is all taxes, where are our new roads and infrastructure? A dollar a gallon is a lot. Newsom’s tunnels and trains to nowhere? This really sucks. Normally when you have more volume in sales the price goes down except when it’s taxes and government.

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