The national average price for a gallon of regular gasoline rose sharply over the past week as spring break travel increases demand, according to AAA data released March 12.
The average price reached $3.598 per gallon, up nearly 35 cents from $3.251 a week earlier.
Gas prices have also climbed significantly over the past month. The national average stood at $2.944 a month ago and $3.080 at the same time last year.
AAA said gasoline demand increased as warmer weather brings more drivers onto the road during the spring travel season.
According to the U.S. Energy Information Administration, gasoline demand rose from 8.29 million barrels per day to 9.24 million barrels per day last week. Domestic gasoline supplies fell from 253.1 million barrels to 249.5 million barrels, while production averaged 9.9 million barrels per day.
Crude oil prices also contributed to higher fuel costs. West Texas Intermediate crude rose $3.80 to settle at $87.25 per barrel during Wednesday’s trading session.
U.S. crude oil inventories increased by 3.8 million barrels to 443.1 million barrels, which is about 2% below the five-year average for this time of year.
In response to rising oil prices, the United States announced plans to release 172 million barrels of oil from the Strategic Petroleum Reserve over four months. The move is part of a broader effort by the International Energy Agency to release a total of 400 million barrels of oil.
California had the highest average gas price at $5.36 per gallon, followed by Hawaii at $4.76 and Washington at $4.74. Kansas reported the lowest average price at $3.04 per gallon, followed by Oklahoma at $3.05 and North Dakota at $3.09.
The national average cost of electricity at public EV charging stations rose two cents to 41 cents per kilowatt hour.
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