Gas Prices Up After 98-Day Declining Streak



gas prices up after 98-day declining streak

After declining for 98 days in a row, the national average price for gasoline has started to pick up again. The national average gas price in the U.S. has increased to $3.725 a gallon after a more than three-month declining streak according to the American Automobile Association (AAA). The average gas price on Monday, Sept. 26 is up by more than four cents from last week’s $3.677.



Gas Prices Go Up After More Than Three Months of Increases

Across the nation, gas prices fluctuated from as high as $ 5.798 to a low of $ 3.074. Over the past week, gas prices have seen prices go up from 36 cents to less than 2 cents across the nation.

After reaching record highs in June gas prices had shown easing back towards more familiar levels. Despite the increase, the average gallon of gas price is currently 14 cents less than one month ago, but still 60 cents shy of the $ 3.187 price tag a year ago.

The states of Oregon, Wisconsin, and California saw the highest spike in prices over the past week with an average tick of 36 cents. Gas prices in Oregon rose from $4.648 last week to $5.009 this week. Wisconsin saw gas prices rise from $3.410 to $3.766 in just one week while California saw gas prices leap from $5.447 to $5.798.

However, it is not all bad news Mississippi, Louisiana, Texas, and Georgia have seen a continued drop in their state’s average gas prices reaching less than last year’s $ 3.187 national prices. A gallon of gas in Mississippi now sells for $3.074 down from last week’s $3.103.

Lowest Gas Prices



StateRegularMid-GradePremiumDiesel 
Mississippi3.0743.4473.8014.533
Louisiana3.1183.4843.8374.53
Georgia3.123.4953.8764.584
Texas3.1233.4893.8234.461
Tennessee3.1733.5353.8984.61

California, Hawaii, Nevada, and Oregon continue to experience high prices approaching the record peak of $5.06 in mid-June.  A gallon of gas in California now sells on average for $5.798 up from last week’s $5.447. Hawaii fared relatively better with the average price of gas at the pump reaching $5.234 from last week’s $5.267.

Highest Gas Prices

StateRegularMid-GradePremiumDiesel 
California5.7985.9526.1196.28
Hawaii5.2345.4775.7146.056
Nevada5.1045.2735.5165.187
Oregon5.0095.0875.3145.453
Washington4.9225.0295.2425.446

What’s Raising Gas prices

The increase in gas prices is in part due to the market reacting to the Federal Reserve’s announcement that it would raise interest rates again prompting speculation over a possible recession being afoot.

Gas Price Trends



 RegularMid-GradePremiumDieselE85
Current Avg.3.7254.1524.4714.8993.049
Yesterday Avg.3.7144.1474.4654.9053.042
Week Ago Avg.3.6774.1184.4254.953.012
Month Ago Avg.3.8694.3084.6085.0143.153
Year Ago Avg.3.1873.5423.8173.3122.701

According to new data from the Energy Information Administration (EIA), tight supply and fluctuating oil prices have increased the national average. As of last week, gas demand decreased from 8.49 million barrels to 8.32 million barrels last week. While total domestic gasoline stocks increased by 1.6 million barrels to 214.6 million barrels.

Experts expect that if gas demand remains low and continues to drop, pump price increases will likely be minimized as supply increases.

State Gas Prices September 22, 2022

StateRegularMid-GradePremiumDiesel 
Alaska4.8044.9255.1155.142
Alabama3.2163.5873.9684.661
Arkansas3.2353.5873.9214.619
Arizona4.1044.3644.644.893
California5.7985.9526.1196.28
Colorado3.7424.0844.394.68
Connecticut3.3473.9024.2924.982
District of Columbia3.7744.3714.7545.017
Delaware3.333.814.0824.666
Florida3.3793.7794.0954.686
Georgia3.123.4953.8764.584
Hawaii5.2345.4775.7146.056
Iowa3.6133.8914.3564.72
Idaho4.4164.5984.8335.012
Illinois3.9774.4084.8185.083
Indiana3.8224.2184.5945.199
Kansas3.4263.7014.0154.66
Kentucky3.2463.633.9894.786
Louisiana3.1183.4843.8374.53
Massachusetts3.5774.154.4474.947
Maryland3.463.9854.2744.719
Maine3.5923.9714.3384.993
Michigan3.9724.3164.7235.292
Minnesota3.6854.0024.374.906
Missouri3.3683.6413.9614.671
Mississippi3.0743.4473.8014.533
Montana3.9474.2244.5074.883
North Carolina3.3343.7074.0574.658
North Dakota3.7124.0354.4164.72
Nebraska3.6093.8114.3064.743
New Hampshire3.4974.0074.3584.838
New Jersey3.4894.074.3324.809
New Mexico3.6753.9934.2754.719
Nevada5.1045.2735.5165.187
New York3.6784.1424.4945.05
Ohio3.5843.9394.3015.014
Oklahoma3.4743.7844.0294.552
Oregon5.0095.0875.3145.453
Pennsylvania3.8044.1814.4395.021
Rhode Island3.4384.0344.3674.821
South Carolina3.2163.5833.9374.644
South Dakota3.6873.874.324.705
Tennessee3.1733.5353.8984.61
Texas3.1233.4893.8234.461
Utah4.2024.424.6184.825
Virginia3.3533.774.1034.668
Vermont3.7314.3064.6964.88
Washington4.9225.0295.2425.446
Wisconsin3.7664.0334.5434.724
West Virginia3.4743.7333.9824.69
Wyoming3.8654.0894.344.839

For the latest, follow us on Google News.

Image: Envato Elements



Comment ▼

Samson Haileyesus Samson Haileyesus is a staff writer for Small Business Trends and has several years of progressive experience in media, communication and PR working with government, NGOs and private sector. He is passionate about public outreach, branding, media relations and marketing.

Leave a Reply

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

*