Trending
Labor Day weekend travelers faced the highest gas prices ever for this time of year as the national average rose 6 cents over the past week to $4.15, according to AAA East Central's Gas Price Report on Tuesday.
Continued volatility in the Strait of Hormuz has pushed crude oil prices over $90 per barrel. After a record-setting August, this past Labor Day weekend set a record at the pump. The national average has never been above $4 per gallon on Labor Day. The current Labor Day record is $3.82, set on Sept. 3, 2012.
Even though gasoline demand decreases this time of year, typically bringing down gas prices, this year is different due to the high cost of crude oil.
According to new data from the Energy Information Administration, gasoline demand decreased last week from 9.04 million barrels per day to 8.92 million. Total domestic gasoline supply decreased from 206.8 million barrels to 205.7 million. Gasoline production stayed the same as last week, averaging 9.8 million barrels per day.
As of late Tuesday's afternoon trading session, West Texas Intermediate was 92.34 a barrel. The EIA reports that crude oil inventories decreased by 4.5 million barrels from the previous week. At 424.5 million barrels, U.S. crude oil inventories are 1% above the five-year average for this time of year.
The average price of unleaded self-serve gasoline Tuesday in Niles was $3.909 per gallon in Niles and $3.895 in Youngstown.
The nation's top 10 most expensive gasoline markets are California ($5.87), Washington ($5.51), Hawaii ($5.39), Alaska ($5.02), Oregon ($5.02), Nevada ($4.97), Idaho ($4.63), Arizona ($4.54), Utah ($4.40), and Montana ($4.39).
The nation's top 10 least expensive gasoline markets are Indiana ($3.42), Texas ($3.67), Oklahoma ($3.71), Mississippi ($3.74), South Carolina ($3.75), Kansas ($3.77), Louisiana ($3.76), Arkansas ($3.78), Alabama ($3.80), and Tennessee ($3.81).
The national average per kilowatt hour of electricity at a public EV charging station stayed the same this past week at 42 cents.