August 16, 2024 - WASHINGTON, D.C. — By Andrew Gross & Devin Gladden - The national average for a gallon of gas hit $3.44, falling by just a penny since last week. Meanwhile, the national and state averages for L2 commercial electricity remained the same as the previous two weeks.

“Summer is wrapping up soon, and so far, gas prices have barely wobbled,” said Andrew Gross, AAA spokesperson. “But we still have a long way to go with hurricane season, so it’s too soon to declare that pump prices have started their usual Autumn swoon.”

With an estimated 1.2 million AAA members living in households with one or more electric vehicles, AAA lists the kilowatt-per-hour cost for Level 2 (L2) commercial charging by state.

Today’s national average for a kilowatt of electricity at an L2 commercial charging station is 34 cents.

According to new data from the Energy Information Administration (EIA), gas demand edged higher last week from 8.96 million b/d to 9.04. Meanwhile, total domestic gasoline stocks fell from 225.1 to 222.2 million barrels. Gasoline production decreased slightly last week, averaging 9.7 million barrels per day. Tepid gasoline demand and stable oil costs may cause pump prices to slide further.

Today’s national average for a gallon of gas is $3.44, eight cents less than a month ago and 42 cents less than a year ago.

Oil Market Dynamics

At the close of Wednesday’s formal trading session, WTI fell by $1.37 to settle at $76.98 a barrel. The EIA reports that crude oil inventories increased by 1.4 million barrels from the previous week. At 430.7 million barrels, U.S. crude oil inventories are about 5% 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 ($4.67), California ($4.69), Washington ($4.22), Nevada ($3.95), Oregon ($3.86), Illinois ($3.84), Alaska ($3.76), Washington, D.C. ($3.67), Utah ($3.65), and Idaho ($3.60).

The nation’s top 10 least expensive gasoline markets are Mississippi ($2.96), Texas ($3.04), Louisiana ($3.05), Oklahoma ($3.06), Tennessee ($3.07), Alabama ($3.10), South Carolina ($3.11), Arkansas ($3.12), Kansas ($3.14) and Missouri ($3.16).

Electric

The nation’s top 10 least expensive states for L2 commercial charging per kilowatt hour are Kansas (22 cents), Missouri (24 cents), Delaware (25 cents), Texas (28 cents), Nebraska (29 cents), Utah (29 cents), Wisconsin (29 cents,) Vermont (29 cents), Michigan (29 cents) and North Dakota (30 cents).

The nation’s top 10 most expensive states for L2 commercial charging per kilowatt hour are Hawaii (56 cents), West Virginia (45 cents), South Dakota (43 cents), Arkansas (42 cents), Idaho (42 cents), Kentucky (41 cents), Montana (41 cents), New Hampshire (41 cents), Tennessee (41 cents) and Alaska (40 cents).

Drivers can find current gas and electric charging prices along their route using the AAA TripTik Travel planner.
Source: AAA