What are gas prices in the US and each state? Today 8 July 2022
Since Monday gas prices have fallen five cents, with further decreases expected. However, this does not mean that prices will drop to their pre-pandemic level.
Since the holiday weekend, gas prices have fallen significantly.
For those, like Senate Minority Leader Mitch Mcconnell who believe that gas prices are increasing due to a war launched by President Biden on the fossil fuel industry should consider the facts.
In 2021, seventy-nine percent of primary energy consumption in the United States came from fossil fuels including petroleum, natural gas, and coal. The percent of energy that came from renewables only increased slightly from 11.5 to 12.2 quads. If such a war is being launched it is failing spectacularly. According to the Energy Information Administration, fifty-nine percent of the price of gasoline is determined by the price of crude oil. The war in Ukraine has led to a demand crisis as the US market becomes more attractive to countries who have imposed sanctions on Russia. While,Russian energy imports did not form a significant part of the US energy System, some supply did have to be found in other places. These shocks led markets to their highest point in history.
What the GOP seems to forget is that the president has very little impact on the price of oil, which is determined by a slew of factors, including international market conditions. Global crude oil prices have fallen slightly in recent weeks. Around a month ago, the barrel stood at $121 and has stands at around $102. This has led to substantial decreases in fuel prices in some states.
Which states have been significant decreases in gas prices?
According to AAA, the ten states that have seen a decrease in price are:
- Illinois (−16 cents)
- Texas (−15 cents)
- Delaware (−15 cents)
- Ohio (−13 cents)
- Florida (−13 cents)
- Indiana (−13 cents)
- Virginia (−13 cents)
- Arizona (−12 cents)
- South Carolina (−12 cents)
- Alabama (−12 cents).
Date: Friday 8 July 2022
Today’s national average: $4.752 (-$0.020 from July 6)
Selected states’ daily average
California: $6.145 (-$0.040)
Texas: $4.295 (-$0.062)
Florida: $4.459 (-$0.027)
New York: $4.833 (-$0.024)
Gas cost calculator
The AAA website includes a useful gas cost calculator to help Americans work out how much their trip is likely to cost. Just enter your starting location plus two, or three, destinations as well as car model details.
In which states is gas most expensive?
The five states with the highest average regular gas prices today are:
California: $6.145 (-$0.040)
Hawaii: $5.622 (+$0.005)
Alaska: $5.522 (-$0.022)
Nevada: $5.447 (-$0.006) $5.451 (-$0.004)
Oregon: $5.447 (+$0.001) $5.425 (-$0.022)
In which states is gas least expensive?
The five states for the lowest average regular gas prices today are:
South Carolina: $4.230 (-$0.027)
Georgia: $4.231 (-$0.039)
Mississippi: $4.239 (-$0.046)
Louisiana: $4.280 (-$0.034)
Texas: $4.295 (-$0.062)