Regardless, amid low gasoline demand, high gasoline inventory and a resurgence in coronavirus cases, gas prices are not likely to see large increases. On the week, the national gas price average held steady at $2.16. That is also four cents less than last month and 40 cents cheaper than last year.
- The nation’s top 10 largest monthly changes: Florida (+14 cents), Delaware (+11 cents), Washington, D.C. (+10 cents), New Jersey (+10 cents), Utah (-10 cents), Maryland (+9 cents), Iowa (+8 cents), Arkansas (+7 cents), Missouri (+7 cents) and Oklahoma (+7 cents).
- The nation’s top 10 least expensive markets: Mississippi ($1.84), Missouri ($1.84), Texas ($1.85), Louisiana ($1.87), Oklahoma ($1.88), Arkansas ($1.90), Tennessee ($1.91), South Carolina ($1.91), Alabama ($1.91) and Kansas ($1.94).
Oil Market Dynamics
At the close of Friday’s formal trading session, WTI decreased by 21 cents to settle at $46.57. Although crude prices ended with a loss for the day, due to market concerns that demand may dwindle in the coming winter months, prices increased slightly over the previous week amid continued market optimism that demand will recover in 2021 as Americans begin receiving coronavirus vaccines this week. More positive news about Americans receiving the emergency coronavirus vaccine will likely continue to bolster the domestic price of crude oil this week.
Motorists can find current gas prices along their route with the free AAA Mobile app for iPhone, iPad and Android. The app can also be used to map a route, find discounts, book a hotel and access AAA roadside assistance. Learn more at AAA.com/mobile.