With crude oil prices hovering in the low $60s per barrel, drivers across the nation are seeing a decrease in fuel costs. The national average price of gasoline has fallen by approximately 3 cents from last week, now standing at $3.16, which is consistent with prices from a month ago. This trend suggests that fuel prices will remain lower than those experienced last summer.
However, weather conditions could still impact these prices. The Atlantic hurricane season starts this Sunday, and the National Oceanic and Atmospheric Administration (NOAA) has forecasted a 60% chance of an above-normal season. Hurricanes affecting the Gulf Coast have the potential to disrupt oil refineries and interrupt fuel deliveries, possibly leading to temporary increases in gas prices.
In terms of electric vehicle charging costs, there has been no change over the past week. The national average cost per kilowatt hour at public EV charging stations remains steady at 36 cents.