Drivers are ready to get on the road this summer, and lower gas prices will help. (iStock)
Gas prices stabilize, officially kicking off summer driving season, according to latest AAA data report.
The national average price for a gallon of gas was $3.61, up just 1 cent from last week. However, AAA expects gasoline demand to increase heading into this weekend. A record 38.4 million drivers are expected to arrive for the official start of the summer driving season, reaching a level not seen since before the pandemic.
Gas demand unexpectedly rose to 9.31 million barrels a day from 8.87 million barrels a day the previous week, according to new data from the Energy Information Administration (EIA). Due to lower oil prices, pump prices may remain flat for some time even if gas demand increases.
“We haven’t seen a surge in demand during the summer driving season since the pandemic, so prices at the pump could rise,” AAA spokesman Andrew Gross said. “So it will be interesting to see if this year bucks that trend.
“The Biden Administration’s move this week to sell 1 million barrels of Northeast gasoline supply reserves may help prevent higher pump prices in the region, but it is unlikely to move the national average too significantly,” Gross continued.
If you want to reduce your overall car costs, consider switching car insurance companies. You can visit Credible to compare quotes from different companies without affecting your credit score.
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These states have the cheapest gas
Gas prices for motorists vary across the country, with some states having higher average prices than others. The following states had the lowest prices:
- Mississippi ($3.06)
- Arkansas ($3.10)
- Oklahoma ($3.12)
- Kansas ($3.13)
- Louisiana ($3.16)
- Texas ($3.17)
- Missouri ($3.20)
- Tennessee ($3.21)
- South Carolina ($3.21)
- Alabama ($3.24)
The 10 states with the highest gas prices are:
- California ($5.15)
- Hawaii ($4.78)
- Washington ($4.58)
- Oregon ($4.34)
- Nevada ($4.33)
- Alaska ($4.32)
- Illinois ($4.01)
- Arizona ($3.87)
- Idaho ($3.78)
- Pennsylvania ($3.77)
Getting cheaper auto insurance is another way drivers can reduce the cost of car ownership. Visit Credible to find the premium that’s right for you without affecting your credit score.
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More Americans expected to travel this summer
About 76% of Americans are expected to plan a road trip between Memorial Day and Labor Day weekends this year, up from 18% in 2023, according to GasBuddy. investigationMany Americans plan at least two road trips, and 49% plan to drive more than five hours to reach their destination.
“The start of the summer driving season is shaping up to be a busy one. Americans are complaining about gas prices, but that doesn’t seem to deter many from taking the road,” said Patrick de Haan, head of petroleum at GasBuddy. said. “…As the summer drags on, more gas stations will bring gas prices below $2.99 a gallon, and refineries will complete maintenance and increase production.”
If you’re planning on heading out on a road trip this summer, following these tips can help you cut down on your car’s fuel costs.
Check price before milking
46% of drivers said rising gas prices have affected their itinerary this year. Research shows drivers could save money by planning where they buy. With an app that shows gas prices, you can save 10 to 50 cents per gallon in just a few blocks.
Avoid crowds at state borders
According to GasBuddy, things change when you fill up at a gas station across state lines.
“Choosing the right side of the line can lead to savings or additional spending of 25 cents to $2 per gallon,” the study says.
Consider payment options
Some gas stations offer discounts when you pay in cash. Drivers can also save money by joining loyalty programs and receiving promotional discounts.
If you’re looking for new car insurance, you can use the Credible marketplace to compare multiple providers and find your personalized rate in minutes.
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