U.S. Gasoline Holds at $4.09 as WTI Jumps to $84.46 on Hormuz Instability
Updated
Updated · gasprices.aaa.com · Jul 30
U.S. Gasoline Holds at $4.09 as WTI Jumps to $84.46 on Hormuz Instability
3 articles · Updated · gasprices.aaa.com · Jul 30
Summary
$4.09 a gallon was the U.S. average for regular gasoline this week, essentially unchanged from $4.091 last week but up from $3.847 a month ago and $3.140 a year ago.
WTI crude rose $5.20 to $84.46 a barrel as instability around the Strait of Hormuz lingered, keeping oil in the $80 range and threatening to delay the usual August easing in pump prices.
EIA data showed gasoline demand increased to 9.04 million barrels a day from 8.94 million, while domestic supply held flat at 211.3 million and production rose to 9.9 million barrels a day.
Crude inventories fell by 7.2 million barrels to 404.5 million, leaving U.S. stockpiles about 7% below the five-year average for this time of year.
California had the highest state average gas price at $5.64, while Indiana was lowest at $3.56; public EV charging nationally was unchanged at 42 cents per kilowatt hour.