Over the last week, prices rose in the Midwest region. The Rocky Mountains saw the greatest dip in prices, decreasing 9 cents.
Photo: EIA/Automotive Fleet
Heading into November, gas prices continue declining in most regions across the U.S. The national average cost of gasoline decreased 3 cents in the last week to $3.06, according to U.S. Energy Information Administration (EIA) data. Prices year-over-year are down 32 cents.
Although seasonal trends continue to push down gasoline prices, attention will be paid to the election this week and its impact on the nation’s trajectory.
“Gasoline prices are likely to be a gift to the next president, staying much lower than in previous years when COVID and Russia’s war on Ukraine caused a surge that’s unlikely to repeat,” Patrick De Haan, head of petroleum analysis at GasBuddy, said.
Americans can expect the downward trend to continue in most states, while others have seen price jumps temporarily due to “price cycling”, De Haan continued. We should see the number of states with sub-$3-per-gallon prices grow as we get closer to Thanksgiving.
See how diesel prices are changing per region on Work Truck.
U.S. Regional Gasoline Prices as of November 4, 2024
Here’s a look at prices by region according to EIA data, as of Nov. 4:
- East Coast: $2.99
- Midwest: $2.93
- Gulf Coast: $2.61
- Rocky Mountain: $3.10
- West Coast: $3.94
Over the last week, prices declined in every region except the Midwest, which saw a slight increase of 1 cent. The Rocky Mountain region saw the most significant decrease of 9 cents.
Here’s a list of the 10 lowest average prices per gallon, according to AAA data as of Nov. 4:
| Rank | State | Regular |
|---|---|---|
| 1 | Oklahoma | $2.63 |
| 2 | Mississippi | $2.66 |
| 3 | Texas | $2.66 |
| 4 | Arkansas | $2.73 |
| 5 | Missouri | $2.74 |
| 6 | Tennessee | $2.74 |
| 7 | Kansas | $2.76 |
| 8 | Kentucky | $2.76 |
| 9 | Louisiana | $2.76 |
| 10 | South Carolina | $2.78 |
As more and more states fall under the $3 per gallon benchmark, Mississippi has been yet again dethroned by another state for the number one state with the cheapest price for a gallon of gas. Oklahoma has the lowest price at $2.63.
Currently, 25 states have a $2.99 or lower average for a gallon of gas.
Regional Gas Prices: Final Week of October
At the start of the final week of October 2024, the average gas prices according to EIA data, as of Oct. 28, reported by region were:
- East Coast: $3.04
- Midwest: $2.92
- Gulf Coast: $2.64
- Rocky Mountain: $3.19
- West Coast: $3.97
