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U.S. gasoline prices approach record August highs
The national average for regular gasoline in the United States is $4.09 per gallon, a one-cent decrease from the previous week. For the first time on record, the national average has remained above $4 per gallon every day throughout the month of August. This trend positions August to become the most expensive August for fuel prices, surpassing the previous record set in 2022.
Crude oil prices remain in the $80 per barrel range, influenced by ongoing volatility in the Strait of Hormuz. West Texas Intermediate (WTI) recently settled at $82.23 per barrel after a 13-cent decline. Data from the Energy Information Administration (EIA) indicates that gasoline demand rose to 9.04 million barrels per day last week, while total domestic gasoline supply fell to 206.8 million barrels.
Regional variations show California as the most expensive market at $5.63 per gallon, while Texas maintains a statewide average of $3.63. In Texas, El Paso reports the highest metropolitan average at $3.91, whereas McAllen is the lowest at $3.45. The national average for public electric vehicle charging remained steady at 42 cents per kilowatt hour.
Entities
AAA · California · Energy Information Administration · Strait of Hormuz · Texas
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 3 SOURCES] August is on track to become the most expensive August for gasoline prices on record, surpassing the 2022 record. gasprices.aaa.com · www.gilmermirror.com · yubanet.com
- [DISPUTED] Crude oil prices remain in the $80 per barrel range due to volatility in the Strait of Hormuz. gasprices.aaa.com · www.gilmermirror.com · yubanet.com
- [● 2 SOURCES] The national average for public EV charging electricity stayed at 42 cents per kilowatt hour. gasprices.aaa.com · yubanet.com
- [○ 1 SOURCE] The statewide gas price average in Texas is $3.63 per gallon. www.gilmermirror.com
- [● 2 SOURCES] Gasoline demand increased from 8.68 million barrels per day to 9.04 million barrels per day last week. gasprices.aaa.com · yubanet.com
- [● 2 SOURCES] Total domestic gasoline supply decreased from 209.4 million barrels to 206.8 million barrels. gasprices.aaa.com · yubanet.com
- [● 3 SOURCES] The national average for a gallon of regular gasoline has remained above $4 every day in August for the first time on record. gasprices.aaa.com · www.gilmermirror.com · yubanet.com
- [● 2 SOURCES] WTI crude oil settled at $82.23 a barrel after falling 13 cents. gasprices.aaa.com · yubanet.com