At $2.55/gallon, however, Kansas has the 6th cheapest average gas price in the nation
TOPEKA – Hitting $2.81, today’s national gas price average has reached the highest price per gallon since November 2014. That year, pump prices averaged $3.34, peaking at $3.70 in April and bottoming out at $2.25 in December. This year’s pump prices will not be reminiscent of 2014, but for motorists, filling-up is packing an unwanted punch to wallets.
“Motorists have been spoiled the past few years with inexpensive gas prices,” said Shawn Steward, AAA Kansas spokesman. “We expect prices to continue increasing, potentially another 10 cents, through Memorial Day and then will likely stabilize during the summer, with the understanding that if demand spikes, prices are likely to follow.”
On the week, national gasoline demand took a notable drop from its record high the previous week, falling by 774,000 b/d, according to the Energy Information Administration (EIA). At 9.083 million b/d, gasoline demand is now more in line with rates typically seen during the spring driving season.
Today’s national gas price average is 16 cents more expensive than last month and 43 cents more expensive that last year at this time. California and Hawaii share the highest average gas price at $3.61/gallon, while Oklahoma is enjoying the cheapest prices at the pump, $2.52/gallon.
“In Kansas, the average this week is $2.55, up about six cents in the past week,” AAA Kansas’ Steward said, “but we are pretty fortunate here in the Sunflower State to have the nation’s 6th cheapest average gas prices, 26 cents less than the national average. Strong gas demand and the transition to more expensive summer blend gasolines has kept prices on the rise.”
Of the 10 Kansas cities regularly highlighted by AAA Kansas (see chart), eight cities saw gas price increases in the past week. Topeka remained flat, while Salina actually fell 3 cents per gallon. Lawrence (+13 cents), Kansas City, Kan. (+12) and Hays (+11) saw the largest weekly increases. At Wichita registered the 12th lowest metro area gas prices in the nation, while Manhattan came in as 51st lowest metro.
According to AAA Kansas, this week’s Kansas gas price extremes are:
HIGH: Altoona (Wilson County) – $2.90
LOW: Columbus (Cherokee County) – $2.42
Great Lakes and Central States Report
Missouri (+9 cents) has the largest one-week jump at the pump in the nation and the region. Iowa (+8 cents), Wisconsin (+7 cents) and Kentucky (+7 cents) also land on the top 10 states list with the largest increase. At $2.92, Michigan carries the most expensive gas price average in the region followed by Illinois ($2.87), Indiana ($2.78), Ohio ($2.75) and Kentucky ($2.74).
Comparing pump prices to those this time last year, Indiana motorists are paying 53-cents more to fill-up. This is the most expensive year-over-year difference in gas prices of any state in the region.
In the coming days, some regional states may see prices spike a little higher than other surrounding states – including Wisconsin ($2.68), Michigan ($2.92) and Minnesota ($2.61) – following fires that broke out at Husky Energy’s refinery in Superior, Wisconsin, last Thursday. The impact on prices (short or long term) will be determined by the extent of damage to the refinery. According to the company’s website, the 50,000 b/d refinery processes light had heavy crude oil, in addition to asphalt, gasoline, diesel and heavy fuel oils.
With a 430,000 bbl draw, inventories in the region fall to 56.6 million bbl according to the latest EIA data.