Drivers heading into the busy Memorial Day travel period are getting little relief at the pump as gas prices remain near their highest levels in years, according to new data released Thursday by AAA.
AAA reported the national average price for a gallon of regular gasoline stood at $4.53 on Thursday, down slightly from last week’s average of $4.56 but still sharply higher than prices seen a month or year ago.
The organization said prices briefly declined earlier this week before beginning to climb again as crude oil prices continued hovering near $100 per barrel.
Thursday’s national average remained more than 40 cents higher than one month ago and more than $1.35 above prices recorded at the same time last year, according to AAA.
The organization warned motorists should expect the highest Memorial Day gas prices in four years as record numbers of travelers prepare to hit the road next week.
AAA said gasoline demand fell slightly over the past week, dropping from 8.81 million barrels per day to 8.75 million, according to new federal Energy Information Administration data. Domestic gasoline supplies also declined from 219.8 million barrels to 215.7 million barrels.
Meanwhile, U.S. crude oil inventories fell by 4.3 million barrels last week, helping keep upward pressure on fuel prices. West Texas Intermediate crude settled Wednesday at just over $101 per barrel.
California continued to post the nation’s highest average gas prices at $6.14 per gallon, followed by Washington at $5.77 and Hawaii at $5.64.
The least expensive gas prices were concentrated in the South, with Mississippi reporting the nation’s lowest statewide average at $3.99 per gallon. Louisiana and Texas both averaged about $4.00 per gallon.
AAA also reported public electric vehicle charging prices remained unchanged nationally over the past week at an average of 41 cents per kilowatt hour.
The most expensive states for public EV charging included West Virginia, Hawaii and Alaska, while Kansas, Missouri and Utah recorded the lowest average charging costs.
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