AAA reported that the national gas price average is at $2.89, up a penny from last week, while the State of California is averaging $4.09.
AAA says a majority of states are seeing moderate jumps at the pumps while some are seeing decline. Twenty-seven states saw gas prices decrease or hold steady on the week with Delaware (-4 cents), Kentucky (-3 cents) and North Carolina (-3 cents) seeing the largest declines.
“While gasoline demand remains robust, gasoline inventories built for the first time since early February, which was a surprise, and contributed toward the national average only increasing by a penny” said Jeanette Casselano, AAA spokesperson. “Today’s average is just eight cents cheaper than the highest pump price of 2019, which was set going into Memorial Day.”
Today’s average is 16 cents more than last month and eight cents more expensive than this time last year.
Pump prices in the West Coast region are the highest in the nation, with all of the region’s states landing on the nation’s top 10 most expensive list California ($4.09) and Hawaii ($3.63) are the most expensive markets. Washington ($3.53), Nevada ($3.48), Oregon ($3.42), Alaska ($3.41) and Arizona ($3.15) follow. All prices in the region have increased slightly on the week, with Alaska (+5 cents) seeing the largest gain.
The Energy Information Administration’s (EIA) recent weekly report for the week ending on April 26 showed that West Coast gasoline stocks fell for the seventh consecutive week by approximately 400,000 bbl from the previous week and now sit at 27.5 million bbl. If ongoing planned and unplanned refinery maintenance continues throughout the region, the West Coast may see continued price volatility and shrinking gasoline stocks.
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