Which States Have the Lowest Gas Prices Right Now?
Written by
Dawn Allcot
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information. We use data-driven methodologies to evaluate financial products and services - our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines and our products and services review methodology.
20 Years
Helping You Live Richer
Reviewed
by Experts
Trusted by
Millions of Readers
Although the Colonial Pipeline has been restored after the cyberattack and fuel is (mostly) flowing freely – some southeastern states are still experiencing a gas shortage and fuel prices may not drop by as much as expected in the coming weeks, ABC News reports.
See: As Gas Demand Increases, So Do Prices — 25% Higher Than Last YearFind: Gas Prices Are on the Rise — And Not Because of the Pipeline Hack
The app Gas Buddy showed that 31% of Virginia gas stations, for instance, are still without fuel as of Monday, which is keeping prices high. Business Expert Nancy Hubbard of the University of Lynchburg (VA), told the Virginia ABC News affiliate that gas prices may drop slightly, but not more than 5 or 10 cents per gallon, based on historical data.
She explained, “Gas always goes up in the summer simply because the blend that is used is more expensive than the winter blend.” Additionally, she pointed to 2019 prices, where gas average $2.89 per gallon through May, based on statistics from AAA.
To contrast, however, last May gas had dropped as low as $1.06 per gallon as a result of decreased demand during one of the roughest months of the pandemic.
The national average gas price reached a high six-year high of $3.04 last weekend, according to AAA statistics, up from last month’s average of $2.87. Last weekend’s prices are still a full dollar and change lower than the record highs of 2008, when gas reached $4.11 per gallon in mid-July.
Southern and Midwest states have some of the lowest prices in the country right now, with gas in Louisiana and Mississippi at $2.72. Texas, Arkansas, and Missouri drivers are paying just $2.76.
Surprisingly, states most affected by the pipeline are paying just around $3 per gallon, while states on the West Coast, including California, are paying up to $4.13, according to AAA.
See: Auto Expenses You Can Expect If You Haven’t Driven During QuarantineFind: Why Supply and Demand Is Important to You and the Economy
If you’re planning a long-distance trip for the holiday weekend, you may want to plan to stop and top off your tank when you reach states where gas costs less.
More From GOBankingRates
- Housing Breaks That Are Available to Military Members and Their Families
- Everything You Need To Know About Taxes This Year
- 4 Tips for Saving Money While in the Military
- Monifi Review: Mobile Banking That Can Improve Your Budgeting
