Gasoline Demand Reaches Highest October Level in 15 Years
Photo by Vince Taroc.
The demand for gasoline in late October was at the highest level since October of 2006, which pushed the nation's average price of a gallon of regular unleaded to $2.53 on Nov. 6, reports AAA.
The price level is 6 cents higher than a week ago, 2 cents higher than a month ago, and 31 cents higher than a year ago.
The price average during the second half of October was relatively stable, fluctuating a penny or two until Oct. 31. Since then, the national price has seen upward movement, primarily resulting from increased demand, according to AAA.
The states with the largest weekly increases include Michigan (21 cents), Ohio (20 cents), Illinois (19 cents), California (17 cents), Wisconsin (16 cents), Indiana (14 cents), Missouri (11 cents), Kentucky (10 cents), Minnesota (8 cents), and Nebraska (7 cents).
The states with the least expensive markets include Alabama ($2.21), Mississippi ($2.22), South Carolina ($2.23), Texas ($2.25), Arkansas ($2.26), Louisiana ($2.26), Virginia ($2.28), Tennessee ($2.28), Oklahoma ($2.33), and North Carolina ($2.35).
Meanwhile, the average price of a gallon of diesel increased 6.3 cents to $2.882, which is 41.2 cents higher than a year ago.