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Today’s average price of gas in the U.S. is $3.09 per gallon, up $0.01 from yesterday, $0.02 from last week and $0.03 from last month.
With this uptick after a few months of steadiness, gas prices appear to be climbing back toward April levels, their peak for 2023 thus far. Among the possible factors causing higher gas prices are supply reductions from OPEC and Russia and refinery slowdowns due to extreme heat.
While gas prices may have not returned to their peak, they remain high. The average price of a gallon of gas one year ago today was $3.36.
Which State Has the Highest Gas Prices?
Hawaii has the highest price of gas, with an average of $4.67 per gallon of regular gas.
Which State Has the Lowest Gas Prices?
Oklahoma has the lowest price of gas, with an average of $2.59 per gallon of regular gas.
What’s Happening With Gas Prices?
Gas prices declined last fall after oil supplies rebounded and demand cooled. But prices have been rebounding early in 2023, leaving analysts and consumers anxious over what could happen next for prices at the pump.
The cost of crude oil, which plays a big role in what consumers pay at the gas pump, slid during the second half of 2022 as oil traders anticipated weaker demand and a global economic downturn.
Another reason prices dropped was a boost in fuel…
