National Gasoline Average Inches back up over $3.00 per Gallon

Dear Tigerdroppers, I sincerely apologize for not posting my usual Monday gasoline price update. I got distracted yesterday driving all over the Permian Basin looking for Billy Bob Thornton. I have been unsuccessful in finding him.

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The nation’s average price of gasoline has risen 4.8 cents over the last week and stands at $3.03 per gallon, according to GasBuddy® data compiled from more than 12 million individual price reports covering over 150,000 gas stations across the country. The national average is down 4.0 cents from a month ago but is 0.8 cents per gallon higher than a year ago. The national average price of diesel has increased 6.5 cents in the last week and stands at $3.728 per gallon.

“The national average price of gasoline edged higher last week, with the vast majority of states seeing prices climb,” said Patrick De Haan, head of petroleum analysis at GasBuddy. “Refinery issues in the Great Lakes and West Coast have kept prices elevated, and gasoline inventory data from the government showed another large weekly drop in supplies, which has temporarily propped up prices."

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Oil prices have remained under selling pressure over the last week, but inched up for the start of the new week on optimism that the U.S. government will reopen soon. In early Monday trade, a barrel of WTI crude was up 24 cents to $59.99 per barrel, down from last Monday’s $61.53 per barrel fetch. Brent crude was up 24 cents in early trade to $63.87, also a slight drop versus last week’s $65.96 per barrel start. While OPEC continues to raise production and will again for the month of December, a cooling global economy, coupled with the rise in output, has kept oil prices under pressure. China has been buying millions of barrels of crude oil for storage; any end to Beijing’s buying may lead to a sharp slowdown in prices.

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The states with the lowest average prices: Oklahoma ($2.52), Louisiana ($2.54), and Mississippi ($2.54).

The states with the highest average prices: California ($4.69), Hawaii ($4.41), and Washington ($4.16).

Biggest weekly changes: Colorado (-16.5¢), Maryland (+16.5¢), Delaware (+13.8¢), Florida (-11.5¢), Washington (-9.9¢).

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The states with the lowest average diesel prices: Texas ($3.19), Louisiana ($3.26), and Mississippi ($3.27).

The states with the highest average diesel prices: Hawaii ($5.15), California ($5.12), and Washington ($4.91).

Biggest weekly changes: Wisconsin (+24.0¢), Ohio (+16.5¢), Iowa (+15.7¢), West Virginia (+13.9¢), Kentucky (+13.4¢).

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Damn Trump raising gasoline prices to pay for his $2,000 tariff stimulus checks.