Today’s national average of $3.28 is three cents less than a month ago and two cents less than a year ago.
The nation’s top 10 largest weekly increases: Ohio (+22 cents), Colorado (+17 cents), Wyoming (+16 cents), Indiana (+16 cents), Iowa (+15 cents), North Carolina (+13 cents), Minnesota (+13 cents), Illinois (+12 cents), Michigan (+12 cents) and Arkansas (+12 cents).
The nation’s top 10 most expensive markets: Hawaii ($5.00), California ($4.42), Nevada ($3.96), Washington ($3.92), Alaska ($3.72), Oregon ($3.70), Pennsylvania ($3.65), Washington, D.C. ($3.47), New York ($3.45) and Arizona ($3.42).
Oil Market Dynamics
At the close of Friday’s formal trading session, WTI increased by 10 cents to settle at $73.77. A lower dollar helped to push crude prices higher at the end of the week. However, crude prices declined earlier in the week amid ongoing global economic concerns due to rising COVID-19 cases in China. Crude prices could decline further this week if economic concerns persist.