National gas average stabilizes as recovery from hurricanes continue

WASHINGTON, DC (WOAY) – Since Monday, the national average for a gallon of regular gasoline has decreased by a penny.  Today’s national average of $3.18 is down a cent compared to this time last week, but is three cents more than a month ago and is 99 cents more than a year ago.

Here in the District, today’s average of $3.28 is up a penny on the week and is $1.01 more than last year.

According to new data from the Energy Information Administration (EIA), total domestic gasoline stocks increased by 3.5 million bbl to 221.6 million bbl last week. Gasoline demand remained low at 8.90 million b/d and flat from the previous week, helping to put downward pressure on pump prices nationally.

“The easing in national prices is likely caused by the traditional post-Labor Day/end of summer driving season drop in demand,” said Ragina C. Ali, Public and Government Affairs Manager at AAA Mid-Atlantic.

CURRENT AND PAST GAS PRICE AVERAGES 

Regular Unleaded Gasoline

 

Today

Week Ago

Month Ago

Year Ago

National

$3.18

$3.19

$3.15

$2.19

Washington, D.C.

$3.28

$3.27

$3.21

$2.27

D.C. Metro

$3.11

$3.10

$3.09

$2.23

Maryland

$3.09

$3.04

$3.03

$2.23

The price drop has occurred while approximately 16% of crude production in the Gulf of Mexico remains shuttered due to Hurricanes Ida and Nicholas.

“As the recovery and restoration process continues, gas prices will likely continue to stabilize. However, high crude prices will likely contribute to pump prices remaining elevated, as we enter the first weekend of fall,” Ali said.


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