National Average Jumps 10 Cents as Spring Maintenance Ramps Up for Refiners
Pump prices on the West Coast increased as much as 20 cents this past week, driving the national average up nearly 10 cents to $2.83 on the week. As stocks tighten out West due to unplanned and planned maintenance, California’s average jumped to $4.00, the most expensive state average this week and a price point not seen in the Golden State since July 2014.
“We are seeing very expensive gas prices for this time of year across the country,” said Jeanette Casselano, AAA spokesperson. “Motorists are seeing prices increase as gasoline stocks decreased substantially by 7.7 million bbl amid summer-like demand readings.”
Today’s national average is 3 cents more than last month and 12 cents more than a year ago.
Quick stats
The nation’s top 10 largest weekly increases are: California (+20 cents), Nevada (+18 cents), Missouri (+13 cents), Oregon (+12 cents), Alaska (+12 cents), Washington (+12 cents), Utah (+12 cents), Colorado (+12 cents), Idaho (+11 cents) and Kansas (+11 cents).
The nation’s top 10 least expensive markets are: Alabama ($2.50), Mississippi ($2.51), Arkansas ($2.52), South Carolina ($2.52), Louisiana ($2.54), Texas ($2.57), Virginia ($2.57), Oklahoma ($2.59), New Hampshire ($2.59) and Missouri ($2.60).
West Coast
Motorists in the West Coast region are paying the highest pump prices in the nation, with all of the region’s states landing on the nation’s top 10 most expensive list. California ($4.00) and Hawaii ($3.55) are the most expensive markets. Washington ($3.39), Oregon ($3.28), Nevada ($3.26), Alaska ($3.15) and Arizona ($2.97) follow. All prices in the region have increased on the week, with California (+20 cents) and Nevada (+18 cents) seeing the largest increases in the region and country.
The Energy Information Administration’s (EIA) recent weekly report, for the week ending on April 5, showed that West Coast gasoline stocks fell for a fourth consecutive week by nearly 2 million bbl from the previous week and now sit at 29.04 million bbl. Ongoing planned and unplanned refinery maintenance throughout the region continues to shrink stocks. Total levels are approximately 2.4 million bbl lower than this time last year and could fall further this week depending on refinery maintenance turnaround.