U.S. Gasoline prices edged slightly higher last week, rising by a penny to a national average of $2.94 per gallon as of February 23, according to data compiled by CheapInsurance.com from AAA. The increase, representing a 0.3% rise, comes as the nation observes a year-over-year decrease of 6.6%, with prices currently 21 cents lower than this time last year.
Despite the national trend, significant regional disparities persist. Oklahoma currently boasts the lowest average gas price at $2.34 per gallon, followed by Arkansas at $2.45 and Kansas at $2.46. Conversely, California continues to have the highest prices nationwide, averaging $4.63 per gallon, with Hawaii ($4.38) and Washington ($4.33) also facing substantial costs at the pump.
Diesel fuel prices experienced a more pronounced increase, climbing 7 cents to $3.71 per gallon. This represents a 1.8% weekly jump and a 0.8% increase compared to the same period last year. The historical peak for gasoline occurred on June 14, 2022, when the national average reached $5.02 per gallon. Diesel prices peaked slightly later, on June 19, 2022, at $5.82.
Arizona is experiencing above-average gas prices, currently at $3.23 per gallon, placing it among the ten most expensive states. According to AAA, a spike in Arizona gas prices during February is considered normal, though the organization did not specify the cause of this seasonal trend.
The states rounding out the top ten with the most expensive gas are Nevada ($3.68), Alaska ($3.56), Pennsylvania ($3.14), Washington, D.C. ($3.11), and Vermont ($3.00). States with relatively affordable gas include Missouri ($2.51), Wisconsin ($2.54), Iowa ($2.55), Texas ($2.55), and Nebraska ($2.55).
