Gasoline prices and demand remained unchanged last week. (iStock)
The national average gas price was steady at $3.27 this week after spiking last week. AAA report found.
Gas demand is also stable, according to information from the Energy Information Administration. Production remained unchanged at 8.2 million barrels per day.
Gasoline prices slumped after the announcement that the BP Whiting refinery in Indiana would soon reopen. The refinery has been closed since early February due to a power outage.
“The old winter is trudging towards the exit, milder weather and longer days are on the horizon, and we’re ready for seasonal gas price increases to begin,” said AAA spokesman Andrew Gross. said. “But price increases will likely get off to a slow and erratic start.”
The national average price of gasoline is still 20 cents higher than last month, but down 12 cents from this time last year.
Comparing car insurance costs can help you reduce your most expensive car-related costs. Use Credible’s free tools to review and lower your car insurance premiums today.
Drivers expect long-term zero percent auto loans to be repaid in Q4: Report
Prices were more volatile in certain states.
Prices were largely unchanged last week, but some states still saw large price fluctuations. His 10 states below saw the biggest changes.
- Utah (+17 cents)
- South Dakota (+11 cents)
- Idaho (+11 cents)
- Wyoming (+8 cents)
- Nebraska (+8 cents)
- Montana (+8 cents)
- Iowa (+8 cents)
- Ohio (-8 cents)
- New Mexico (-7 cents)
- Texas (-6 cents)
The most expensive markets for gas in the country include the following 10 states:
- Hawaii ($4.70)
- California ($4.63)
- Washington ($3.92)
- Nevada ($3.91)
- Oregon ($3.60)
- Pennsylvania ($3.53)
- Illinois ($3.51)
- Alaska ($3.46)
- Washington DC ($3.41)
- Arizona ($3.36)
Comparing multiple insurance quotes can save you hundreds of dollars a year. Visit Credible today to compare quotes for free.
Insurance premiums are rising due to social inflation, and there is no end in sight for insurance premium increases in 2024
Biden administration plans to delay switch to electric vehicles
Last year, the Environmental Protection Agency (EPA) Proposed limits on tailpipe emissions This will also increase the number of electric vehicles produced.
The new regulations mean that 67% of new car and truck sales will be fully electric by 2032. The Biden administration initially supported Although these proposals were made, the administration subsequently retreated slightly. Reuters article reported.
The administration’s official plan is not expected to be released until early spring, but multiple sources within the White House said the plan is intended to give manufacturers time to roll out vehicles that comply with EPA rules.
John Bozella said: “Give markets and supply chains a chance to catch up, preserve customer choice, allow more utility bills to come online, and let the Industrial Credit and Inflation Control Act play a role. It should affect the shift.” CEO of Alliance for Automotive Innovation.
The administration is hearing from automakers who say they need more time to build charging stations and implement strategies to make electric vehicles more affordable. Furthermore, the labor union Unionize electric car factories.
Don’t overpay for car insurance. With Credible, you can compare interest rates and lenders with the click of a button.
The number of electric vehicles eligible for the new electric vehicle tax credit decreases to 13.
Have a finance-related question but don’t know who to ask? Email it to your trusted money expert. Moneyexpert@credible.com Your questions may be answered in Credible’s Money Expert column.
