U.S. gas prices hit record autumn highs despite slight weekly dip

The national average gasoline price in the United States fell by 5 cents this week to $4.36, yet remains at record highs for the autumn season. This marks the first October where the national average has exceeded $4.00 per gallon.

Crude oil prices have fluctuated, with WTI recently settling at $88.28 per barrel after dipping into the $80.00 range. Data from the Energy Information Administration (EIA) indicates that domestic gasoline demand rose to 7.76 million barrels per day, while gasoline production saw a slight decrease to 9.34 million barrels per day. U.S. crude oil inventories decreased by 3.2 million barrels to 424.1 million barrels.

Regional variations remain significant, with California reporting the highest average at $6.34 per gallon, while Ohio recorded the lowest at $3.71. Potential impacts on oil production and refineries from Hurricane Isaias are noted as a factor that could influence future pricing.