Energy

Gas Prices Above $2 a Gallon in All 50 States

Paul Ausick

Published: June 19, 2016 8:57 am

Last Updated: January 13, 2020 6:39 am

In the first week of June 2016, gasoline prices in all 50 states rose above $2 a gallon for the first time all year according to GasBuddy. The lowest gas price in the country that week was posted in Mississippi at $2.07 per gallon. This morning gasoline is cheaper than that in three states: South Carolina ($2.024); Oklahoma ($2.049); and Mississippi ($2.059).

In January of this year, the lowest average U.S. price for gasoline was around $1.80 a gallon, the lowest since 2009, and the lowest price for a regular gallon of gas was found in Oklahoma at $1.51 a gallon. Prices dropped further in February, to a national average of $1.732 with prices in Oklahoma dropping to $1.365.

Crude prices began rising late in February and climbed to a national average in early June of $2.365, exactly $1 a gallon more than the lowest state price in February.

Typically, demand for gasoline is highest in the summer as millions of Americans hit the road for vacations. Prices rise beginning May ahead of the Memorial Day holiday and stay high through Labor Day. That prices are coming down, even slightly, is primarily due to high inventory levels in most of the United States and the return to service of Exxon Mobil’s Torrance, California, 150,000-barrel per day refinery.

According to GasBuddy, just 1.5% of all U.S. gas stations are selling gasoline at more than $3 a gallon and 94.2% are selling gas for more than $2 a gallon. A year ago, 100% of U.S. gas stations were selling a gallon of gas for more than $2.25 a gallon and more than 90% charged more than $2.50 a gallon.