For Sale
Finance News

Gas Prices Going Up Again

gas prices going up

Gas prices are once again going up for the second straight week. The national average retail price for a gallon of gas is now $ 3.799 up from last week’s $3.725 a gallon, according to the American Automobile Association (AAA). 

Gas Prices Going Up

The average gas price on Monday, Sept. 26 was up by more than four cents from the previous week’s $3.677. The average gas price on Monday, Oct. 3 is up by more than seven cents from last week’s retail price and has surpassed last month’s $3.796 price tag.

Across the nation, gas prices fluctuated from as high as $ 6.382 to a low of $ 3.057. Over the past week, gas prices have seen prices go up from 58 cents to less than one cent across the nation.

Since last Monday, these 10 states have seen the largest increases in their averages: California (+58 cents), Alaska (+53 cents), Oregon (+42 cents), Washington (+38 cents), Arizona (+38 cents), Nevada (+37 cents), Michigan (+19 cents), Illinois (+18 cents), Wisconsin (+16 cents), and Indiana (+16 cents)

Highest Gas Prices

State Regular Mid-Grade Premium Diesel  
California 6.382 6.552 6.71 6.324
Nevada 5.483 5.695 5.897 5.221
Oregon 5.432 5.578 5.797 5.446
Alaska 5.343 5.499 5.712 5.134
Washington 5.307 5.454 5.652 5.459

California continues to experience the highest gas prices in the nation with the average gallon of gas price going $6.382 a gallon at the pump, up by 58 cents from last week. It remains the state with the most expensive gas price eclipsing the national average by $2.58.

Some counties in California continue to see steep gas prices above the state average of $ 6.382 with gas prices in Mono county, showing the most expensive gas price with a whopping $7.137 for a gallon of gas.

The states of Mississippi, Georgia, Louisiana Texas, Tennessee, South Carolina, Alabama, and Arkansas saw their average prices of a gallon of gas reach below the $3.30 mark.  The average retail price of gas in Mississippi now sells at 3.065 down from last week’s 3.081 and is 66 cents cheaper than the current national average.

Lowest Gas Prices

State Regular Mid-Grade Premium Diesel  
Mississippi 3.057 3.424 3.769 4.495
Texas 3.093 3.451 3.786 4.402
Louisiana 3.099 3.453 3.815 4.487
Georgia 3.173 3.567 3.94 4.565
Tennessee 3.185 3.558 3.915 4.567

Why are Gas Prices Going Up?

The increase in the national average retail price for gas comes following concerns that Hurricane Ian could cause supply disruptions. Some 11 percent of crude oil production in the Gulf of Mexico was shuttered to prevent damage from Hurricane Ian.

Gas Price Trends

  Regular Mid-Grade Premium Diesel E85
Current Avg. 3.799 4.267 4.575 4.87 3.097
Yesterday Avg. 3.796 4.261 4.571 4.873 3.101
Week Ago Avg. 3.725 4.152 4.471 4.899 3.049
Month Ago Avg. 3.796 4.234 4.544 5.074 3.115
Year Ago Avg. 3.196 3.549 3.821 3.349 2.748

Data from the Energy Information Administration (EIA), also indicate that gas demand has increased nationally from 8.32 million barrels a day to 8.83 million barrels a day last week. However, domestic gasoline stocks decreased by 2.4 million barrels to reach 212.2 million barrels. Higher gasoline demand amid tight supply and fluctuating oil prices have increased the national average.

State Gas Prices October 3, 2022

State Regular Mid-Grade Premium Diesel  
Alaska 5.343 5.499 5.712 5.134
Alabama 3.189 3.559 3.946 4.622
Arkansas 3.205 3.569 3.909 4.592
Arizona 4.487 4.781 5.053 4.891
California 6.382 6.552 6.71 6.324
Colorado 3.693 4.03 4.33 4.642
Connecticut 3.277 3.82 4.217 4.939
District of Columbia 3.751 4.368 4.719 4.942
Delaware 3.325 3.781 4.078 4.689
Florida 3.221 3.626 3.946 4.665
Georgia 3.173 3.567 3.94 4.565
Hawaii 5.227 5.471 5.707 6.056
Iowa 3.569 3.854 4.32 4.652
Idaho 4.421 4.588 4.816 4.982
Illinois 4.166 4.598 5.014 5.024
Indiana 3.987 4.39 4.76 5.135
Kansas 3.39 3.663 3.971 4.592
Kentucky 3.396 3.788 4.135 4.75
Louisiana 3.099 3.453 3.815 4.487
Massachusetts 3.495 4.067 4.369 4.886
Maryland 3.446 3.944 4.247 4.707
Maine 3.523 3.889 4.261 4.923
Michigan 4.169 4.552 4.958 5.25
Minnesota 3.659 3.974 4.334 4.866
Missouri 3.329 3.602 3.928 4.623
Mississippi 3.057 3.424 3.769 4.495
Montana 3.954 4.231 4.491 4.865
North Carolina 3.307 3.678 4.034 4.622
North Dakota 3.687 3.985 4.397 4.678
Nebraska 3.567 3.814 4.275 4.694
New Hampshire 3.383 3.889 4.265 4.768
New Jersey 3.421 3.993 4.258 4.758
New Mexico 3.633 3.954 4.249 4.666
Nevada 5.483 5.695 5.897 5.221
New York 3.596 4.05 4.394 4.997
Ohio 3.692 4.06 4.436 4.972
Oklahoma 3.433 3.746 3.979 4.468
Oregon 5.432 5.578 5.797 5.446
Pennsylvania 3.769 4.141 4.41 4.996
Rhode Island 3.329 3.945 4.258 4.749
South Carolina 3.261 3.644 3.979 4.605
South Dakota 3.656 3.824 4.301 4.625
Tennessee 3.185 3.558 3.915 4.567
Texas 3.093 3.451 3.786 4.402
Utah 4.156 4.374 4.571 4.79
Virginia 3.318 3.741 4.059 4.642
Vermont 3.652 4.196 4.641 4.838
Washington 5.307 5.454 5.652 5.459
Wisconsin 3.931 4.306 4.75 4.671
West Virginia 3.44 3.706 3.958 4.668
Wyoming 3.834 4.067 4.315 4.819

Image: Envato Elements

This article, “Gas Prices Going Up Again” was first published on Small Business Trends

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button