BUSINESS: Research + Stats Gas Prices Decrease Due to Rare November Hurricane By Staff Tuesday, November 12, 2024 2:05 PM A rare November hurricane pushed gas prices down further last week, according to new data from the Automobile Association of America (AAA). Last week, VMAIL reported that gas prices had already seen record low levels following decreased demand and the impact of Hurricanes Helene and Milton. Gas prices fell to $3.10 per gallon last week, as Hurricane Rafael battered the Gulf region, a decrease of seven cents less than a month ago and 30 cents less than a year ago.“Gas prices often freeze as a hurricane enters the Gulf and oil production and refining are threatened,” said Andrew Gross, AAA spokesperson. “But once Hurricane Rafael passes, pump prices should soon regain their downward momentum.” According to new data from the Energy Information Administration (EIA), gas demand fell from 9.15 million barrels per day last week to 8.82 million barrels per day. Meanwhile, total domestic gasoline stocks rose from 210.9 million barrels to 211.3 million barrels. Gasoline production increased last week, averaging 9.7 million barrels daily. Meanwhile, as fuel prices fell, the cost of a kilowatt of electricity remained relatively unchanged at 34 cents. The nation’s most expensive gasoline markets are Hawaii at $4.57 per gallon, California at $4.52 and Washington at $4.01. The nation’s least expensive gasoline markets are Oklahoma at $2.64 per gallon, Texas at $2.68 and Mississippi at $2.69.The nation’s top 10 least expensive states for public charging per kilowatt-hour are Kansas at 21 cents, Missouri at 24 cents and Nebraska at 25 cents.The nation’s most expensive states for public charging per kilowatt-hour are Hawaii at 56 cents, West Virginia at 44 cents and Montana at 43 cents.