We're only seven weeks into the year, but gas prices are already setting records across the country.
Several states have seen a spike in gas prices over the past week -- in some cases more than 25 cents per gallon -- setting new highs for 2024, according to AAA.
As for what's driving the sudden increase, AAA says a power outage is partly to blame -- and there's no timeline for restoration.
"The continued shutdown of BP's 440,000 barrels per day Whiting, Indiana, refinery, which lost power on Feb. 2, is contributing to higher prices in the Midwest region," the auto club said in a statement. "A BP spokeswoman on Thursday morning said the company is 'making progress' in restoring the refinery to 'normal operations.'"
Meantime, the average price of gas increased five cents over the past week, bringing the national average to $3.19 per gallon, according to AAA. That's 12 cents more than it was last month, and 22 cents less than it was last year.
According to new data from the Energy Information Administration (EIA), gas demand increased from 8.14 to 8.81 million barrels per day. Meanwhile, total domestic gasoline stocks decreased by 3.1 million bbl to 251 million bbl (bbl refers to a barrel of crude oil, which is 42 gallons).
"Higher gas demand and tighter supply have contributed to elevated pump prices," AAA said. "If demand continues to increase, drivers could see pump prices rise steadily."
Andrew Gross, AAA spokesperson, said drivers will likely notice the increase around Valentine's Day.
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Hawaii currently leads the nation in high gas prices with an average of $4.70 per gallon, AAA reports.
Top 10 most expensive markets
1. Hawaii - $4.70
2. California - $4.61
3. Washington - $3.89
4. Nevada - $3.89
5. Oregon - $3.59
6. Alaska - $3.49
7. Pennsylvania - $3.44
8. Washington, D.C. - $3.38
9. Illinois - $3.37
10. New York - $3.28
The cheapest gas is in Wyoming, where the average price is $2.70 per gallon, per AAA.
Top 10 least expensive markets
1. Wyoming - $2.70
2. Oklahoma - $2.71
3. Colorado - $2.74
4. Kansas - $2.74
5. Mississippi - $2.77
6. Arkansas - $2.79
7. South Dakota - $2.83
8. Missouri - $2.82
9. Utah - $2.82
10. Texas - $2.81
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