US Gas Prices See Slight Decrease as Crude Oil Costs Dip

Gas prices in the US have seen a slight decrease after weeks of increases. The national average for a gallon of regular gas dropped to $4.41, down nearly seven cents from last week's price, according to AAA. This comes as crude oil prices have dipped back into the $90 per barrel range.

According to new data from the Energy Information Administration (EIA), gasoline demand decreased last week from 8.84 million barrels per day to 8.68 million. Total domestic gasoline supply also decreased, and gas production declined from 9.59 million barrels to 9.46 million per day.

The nation's top 10 most expensive gasoline markets are California ($6.40), Hawaii ($5.62), Washington ($5.49), Nevada ($5.49), Oregon ($5.05), Alaska ($5.03), Utah ($4.97), Idaho ($4.97), Arizona ($4.77), and Illinois ($4.71).

For c-store retailers, the high gas prices present an opportunity to rebuild value tiers and promote them aggressively. Elie Y. Katz, CEO and president of National Retail Solutions (NRS), recommends bundling products instead of offering discounts and leaning into loyalty programs.