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After Memorial Day, Gas Prices Stay Steady

After Memorial Day, Gas Prices Stay Steady

Gas prices remained stable in most parts of the country this past week, and the national average for regular gas rose by a penny to $2.38, according to the AAA Daily Fuel Gauge Report.

That's less than what it was a month ago and just six cents higher than a year ago, so a 15-gallon fill up today on average costs less than $1 more this year.

Premium gas rose a penny to $2.90, or 11 cents higher than a year ago, and diesel fuel was unchanged from a week ago at $2.51. Diesel is 18 cents higher than a year ago, but prices typically drop during the summer.

Here's a brief look around at what's going on with the cost of gas across the U.S.:

  • Though pump prices fluctuated by only a few cents or less in many areas, motorists in Ohio saw the statewide average for regular rise 5 cents, and in Indiana and Michigan it rose 6 cents. Prices can be highly volatile in the Great Lakes states, and average prices in Michigan and Ohio have climbed 17 cents over the past three weeks.

  • California remained the most expensive state for gas, with regular averaging $3.10, followed by Hawaii at $3.07 and Alaska at $2.90.

  • South Carolina had the lowest average for regular, $2.04, followed by Alabama at $2.09 and Mississippi at $2.10.

The price of gasoline hinges largely on the cost of oil, and the price of oil fell more than $2 per barrel this past week. It was trading at around $48.35 early Thursday, lower than it was five weeks ago.

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