AAA reports gas prices rising amid Hurricane Milton’s destruction and supply disruptions – Clarksville Online

Washington, D.C – The national average price of a gallon of gasoline has risen two cents to $3.21 since last week as much of the country continues to contend with severe storm damage.

Like Hurricane Helene, Milton will not severely impact the national gasoline supply, but will impact demand in areas with destroyed infrastructure, flooded roads and power outages.

Abroad, tensions between Iran and Israel continue, causing oil prices to fluctuate slowly but not steadily upward.

“All of this recent terrible weather could cause regional prices to rise as drivers flock to the few open gas stations with gas,” AAA spokesman Andrew Gross said. “But once the roads are cleared and power is restored, power can be restored to stations, so any price increase is likely to be temporary.”

With an estimated 1.2 million AAA members living in households with one or more electric vehicles, AAA tracks average kilowatt-per-hour costs for all levels of public charging by state. Today’s national average is 35 cents per kilowatt of electricity at a public charging station.

According to new data from the Energy Information Administration (EIA), gas demand rose to 9.65 from 8.52 million b/d last week. Meanwhile, total domestic gasoline inventories fell to 214.9 from 221.2 million barrels, while gasoline production rose to an average of 10.2 million barrels daily last week.

The national average price for a gallon of gasoline today is $3.21, 5 cents less than a month ago and 47 cents less than a year ago.

Dynamics of the oil market

At the end of the formal trading session on Wednesday, WTI prices fell 33 cents to close at $73.24 a barrel. The EIA reports that crude oil inventories increased by 5.8 million barrels compared to the previous week.

At 422.7 million barrels, U.S. crude oil inventories are about 4% below the five-year average for this time of year.

Quick gas and electricity statistics

gas

That of the nation Great The 10 Most Expensive Gasoline Markets are California ($4.67), Hawaii ($4.59), Washington ($4.05), Nevada ($3.91), Oregon ($3.67), Alaska ($3.65), Illinois ($3.50), Utah ($3.50), Idaho ($3.44) and Pennsylvania ($3.38). ).

That of the nation Top 10 Cheapest Gasoline Markets are Georgia ($2.72), Mississippi ($2.75), Texas ($2.80), Arkansas ($2.81), Oklahoma ($2.81), Louisiana ($2.83), Missouri ($2.84), Kansas ($2.84), Alabama ($2.86) and Tennessee ($2.86). ).