According to the Energy Information Administration (EIA), the latest gasoline demand measurement is the highest for the end of October since 2006. At $2.53, today’s gas price is six cents more than a week ago, two cents more than a month ago and 31 cents more than a year ago. “October has seen strong demand numbers likely, in part, due to consumers taking advantage of the unseasonably warm weather rather than spending time indoors,” said Jeanette Casselano, AAA spokesperson. “As consumers fill up their tanks more frequently, we are seeing supply levels tighten and gas prices increase. However, we don’t expect this increase to be long-term.” The national gas price average during the second half of October was relatively stable, fluctuating a penny or two until October 31. Since then, the national price has seen upward movement, primarily resulting from increased demand.
Quick Stats
- The nation’s top ten largest weekly increases are: Michigan (+21 cents), Ohio (+20 cents), Illinois (+19 cents), California (+17 cents), Wisconsin (+16 cents), Indiana (+14 cents), Missouri (+11 cents), Kentucky (+10 cents), Minnesota (+8 cents) and Nebraska (+7 cents).
- The nation’s top ten least expensive markets are: Alabama ($2.21), Mississippi ($2.22), South Carolina ($2.23), Texas ($2.25), Arkansas ($2.26), Louisiana ($2.26), Virginia ($2.28), Tennessee ($2.28), Oklahoma ($2.33) and North Carolina ($2.35).