AAA reported Monday that national gas prices dropped to $2.59 per gallon, two cents cheaper than last week. however, Californian’s are paying $3.95 per gallon.
“An increase in gasoline stocks amid robust demand helped to push gas prices cheaper on the week,” said Jeanette Casselano, AAA spokesperson. “We would expect this trend to continue throughout most of the month, but the exception is Thanksgiving. With nearly 49.3 million Americans expected to travel by car for the holiday, gas prices may start to fluctuate by the end of this week.”
Today’s national average is six cents less than last month and three cents cheaper than this time last year.
Pump prices in the West Coast region have decreased on the week after the region underwent planned and unplanned refinery maintenance that caused prices to spike over the past month. Reduced supply in the region, amid robust demand, put pressure on pump prices in prior weeks, but the pressure continues to decrease as a result of imports and increased production from regional refineries. As supply increases, prices will likely continue to drop throughout the region this week.
California ($3.95) and Hawaii ($3.65) are the most expensive markets in the country. Washington ($3.38), Nevada ($3.35), Oregon ($3.26), Alaska ($3.19) and Arizona ($2.94) follow. California (-9 cents) and Oregon (-5 cents) saw the largest decreases in the region, while Alaska (+1 cent) saw the only increase on the week.
The EIA report for the week ending November 8 showed that total West Coast gasoline stocks increased from 26.19 million bbl to 26.60 million bbl. The current level is approximately 100,000 bbl lower than last year’s level at this time.