WASHINGTON, D.C. (January 9, 2025)—The national average for a gallon of gas is stuck in neutral and has not budged since last week to stay at $3.06. Meanwhile, today’s national average per kilowatt hour of electricity at a public EV charging station remained at 34 cents, the same amount for almost 5 months.
“Looking back at 2024, the high point for the national average was $3.67 on April 19, and the low was $3.01 on December 10,” said Andrew Gross, AAA spokesperson. “If the national average follows seasonal norms, it will probably waffle up and down by a few cents for the next two months.”
According to new data from the Energy Information Administration (EIA), gasoline demand rose from 8.16 million b/d last week to 8.48. Meanwhile, total domestic gasoline stocks soared from 231.4 million barrels to 237.7, while gasoline production decreased last week, averaging 8.9 million barrels daily. The retail price for regular-grade gasoline averaged $3.30 per gallon in 2024, 21 cents less than in 2023.
The EIA also reported that the United States produced more crude oil than any other nation in the six years 2018-2023. Last year’s numbers are still being crunched, but the trend will likely continue. Crude oil production in the United States averaged 12.9 million barrels daily in 2023, breaking the previous U.S. and global record of 12.3 million in 2019. The EIA says the 2023 oil production record is unlikely to be broken by another country anytime soon.
Today’s national average for a gallon of gas is $3.06, five cents more than a month ago and a penny less than a year ago.
Oil Market Dynamics
At the close of Wednesday’s formal trading session, WTI fell 93 cents to settle at $73.32 a barrel. The EIA reports that crude oil inventories decreased by 1.0 million barrels from the previous week. At 414.6 million barrels, U.S. crude oil inventories are about 6% below the five-year average for this time of year.
Quick Gas and Electricity Stats
Gas
The nation’s top 10 most expensive gasoline markets are Hawaii ($4.53), California ($4.38), Washington ($3.90), Nevada ($3.61), Oregon ($3.46), Alaska ($3.32, Pennslyvania ($3.26), Illinois ($3.26), Washington, DC ($3.22), and New York ($3.13).
The nation’s top 10 least expensive gasoline markets are Oklahoma ($2.60), Mississippi ($2.62), Kansas ($2.68), Texas ($2.70), Arkansas ($2.70), Tennessee ($2.73), Louisiana ($2.73), Missouri ($2.73), Alabama ($2.75) and Kentucky ($2.77).
Electric
The nation’s top 10 least expensive states for public charging per kilowatt hour are Kansas (22 cents), Nebraska (24 cents), Missouri (25 cents), Delaware (27 cents), Texas (28 cents), Washington, DC (29 cents), Maryland (29 cents), Utah (29 cents) North Dakota (29 cents), and Michigan (30 cents).
The nation’s top 10 most expensive states for public charging per kilowatt hour are Hawaii (56 cents), Montana (45 cents), West Virginia (44 cents), New Hampshire (42 cents), Kentucky (42 cents), Idaho (42 cents), Arkansas (42 cents), South Carolina (41 cents), Louisiana (41 cents), and Alaska (41 cents).
Drivers can find current gas and electric charging prices along their route using the AAA TripTik Travel planner.
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