Today’s national gas price average is $1.92. That is nine cents cheaper than last Monday, 48 cents less than a month ago and 81 cents less expensive than a year ago. On the week, pump prices continued to push less expensive with gasoline demand registering at its lowest point since 1993. The latest Energy Information Administration (EIA) weekly report puts demand at 6.7 million b/d – a nearly 30 year low – and it’s likely to push lower as Americans are urged to stay at home at least until the beginning of May.

“This week, market analysts are watching crude oil prices, which started to increase at the end of last week,” said Jeanette Casselano, AAA spokesperson. “However, given the low demand readings, increases in crude aren’t likely to have an impact on gas prices in the near-term.”

In addition to crude oil, market analysts are also watching refinery rates. The U.S. refinery utilization average is down to 82%, a low not seen since September 2017. Given the drop in crude oil and gasoline demand, which is expected to push even lower, refineries are reducing production in hopes this could help to balance the amount of gasoline supply in the country.

Quick Stats

The nation’s top 10 largest weekly decreases are: Wisconsin (-16 cents), Vermont (-15 cents), Idaho (-14 cents), Alaska (-12 cents), Iowa (-12 cents), Kentucky (-11 cents), Arkansas (-10 cents), Ohio (-10 cents), Michigan (-10 cents) and Arizona (-10 cents).

The nation’s top 10 least expensive markets are: Wisconsin ($1.43), Oklahoma ($1.47), Ohio ($1.55), Kentucky ($1.58), Michigan ($1.61), Indiana ($1.62), Mississippi ($1.63), Arkansas ($1.64), Texas ($1.65) and Iowa ($1.66).

West Coast

Although the West Coast region continues to have the most expensive state averages in the country, it is also seeing significant decreases, as crude prices remain low and demand for gasoline and crude oil decline. When compared to a week ago, Alaska (-12 cents) saw the largest decline. Hawaii ($3.30) and California ($2.96) remain the most expensive markets in the country. Washington ($2.68), Oregon ($2.63), Nevada ($2.55), Alaska ($2.40) and Arizona ($2.37) follow.

According to EIA’s latest weekly report, total gas stocks in the region increased from 30.97 million bbl to 34.06 million bbl last week. The significant increase in supply, alongside low crude prices and demand, will likely help to push pump prices lower in the region this week.