Good morning, folks, and welcome to Gas Price Watch: Our daily post about your daily misery at the pump.
Let’s start off with the smidgen of good news I have for all of you: The average price for a gallon on regular across the country is now $4.31. It’s still a lot for us Americans, that’s for sure, but it is now down over two cents from the record high sent on March 11. So, that’s something at least.
That slight decrease isn’t good enough for President Joe Biden (quick reminder that the President doesn’t set gas prices.) This morning, he tweeted that the price should come down, especially since the price of a barrel of oil is now under $100.
As you can see, prices of gas have remained steady despite the fact oil is tumbling in recent days.
Andy Lipow, president of consulting firm Lipow Oil Associates told CNN this trend is nothing new, and it actually has a name: Rockets and feathers.
“This has been going on for 40 years,” Lipow, told CNN. “Prices do dip, it just seems to take a long time. You can’t deny the data that is out there.”
Old or new, Biden isn’t a fan, especially after observing this phenomenon last fall when gas prices retreated slowly after the administration released emergency oil reserves and Omicron hit.
“Try explaining how it’s just rockets and feathers to President Biden, and you’d better be ready to hear, ‘That’s a bunch of malarkey’ coming back at you,” a senior White House official told CNN. “The president is very much within his rights to point out that if you’re going to have rockets on the way up, you need to have rockets on the way down, not feathers.”
Anyway, let’s get to everyone’s favorite sections: Today’s gas price winners and losers. The national average may be going down, but it isn’t the same story for everyone.
Here is where you can find the highest average gas prices in the country in order of highest price for a gallon regular:
- California - $5.77 Regular | $5.96 Mid | $6.10 Premium | $6.27 Diesel
- Hawaii - $5.09 Regular | $5.22 Mid | $5.48 Premium | $5.34 Diesel
- Nevada - $5.01 Regular | $5.20 Mid | $5.41 Premium | $5.22 Diesel
- Washington - $4.74 Regular | $4.96 Mid | $5.14 Premium | $5.40 Diesel
- Alaska - $4.73 Regular | $4.92 Mid | $5.09 Premium | $5.06 Diesel
Here is the lowest average price of gasoline in the country in order of lowest price per gallon of regular:
- Kansas - $3.81 Regular | $4.09 Mid | $4.33 Premium | $4.65 Diesel
- Missouri - $3.82 Regular | $4.10 Mid | $4.38 Premium | $4.73 Diesel
- Oklahoma - $3.83 Regular | $4.12 Mid | $4.36 Premium | $4.72 Diesel
- Arkansas - $3.87 Regular | $4.19 Mid | $4.50 Premium | $4.81 Diesel
- Nebraska - $3.90 Regular | $4.01 Mid | $4.37 Premium | $4.71 Diesel
CNN also reports that every 10-cent increase in the price of gasoline will cost consumers over $11 billion per year, which equates to about $1,300 per household. Again, this is a reminder the president does not set gas prices. Commenting Let’s Go Brandon isn’t going to make gas cheaper.