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Gas Prices Rose Most in 20 US States in July

Created at 2 Aug · 1:36 PM1 source↑ Market-relevant
IN SHORT

Twenty U.S. states experienced the largest increases in gasoline prices during July, with North Carolina, Rhode Island, and Tennessee seeing some of the steepest rises. The national average gas price increased by 6.73% over the month.

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Key Numbers

20states with highest gas price increases in July
6.73%national average gas price increase in July
$4.11national average gas price end of July
8.16%North Carolina gas price increase in July
8.19%Rhode Island gas price increase in July
8.25%Tennessee gas price increase in July
8.76%Alabama gas price increase in July

Who's Involved

AAA
reported national average gas prices
Gas Prices Rose Most in 20 US States in July

↳ Why This Matters

The rising gas prices in numerous states indicate a broader trend impacting consumer budgets and potentially influencing inflation. These increases, particularly those outpacing the national average, can affect household spending and transportation costs across affected regions.

Key facts

  • Twenty U.S. states saw gasoline prices rise more than the national average in July.
  • The national average gas price increased by 6.73% in July, reaching $4.11 per gallon by month's end.
  • North Carolina, Rhode Island, and Tennessee were among the states with the highest price increases.
  • Only four states experienced slight decreases in gas prices during July.
  • Gasoline prices in twenty U.S. states rose more significantly than the national average in July, according to AAA data. The national average price for a gallon of gas increased by 6.73% during the month, reaching $4.11 by July 31. This trend follows a period of volatility, with prices peaking earlier in the year and then falling before climbing again. Among the states experiencing the largest price hikes were North Carolina (8.16% increase), Rhode Island (8.19% increase), Tennessee (8.25% increase), and Alabama (8.76% increase). Only four states—Alaska, Oregon, Washington, and Hawaii—saw slight decreases in their average gas prices over the past month. Factors such as local taxes, proximity to supply, and operating costs contribute to variations in gas prices between states.

    Frequently asked questions

    Gas prices rose in July due to factors including the ongoing effects of the Iran war, which began in late February, and typical market fluctuations. The national average increased by 6.73% over the month.

    The article highlights North Carolina, Rhode Island, Tennessee, and Alabama as states with significant gas price increases in July, with percentage rises of 8.16%, 8.19%, 8.25%, and 8.76% respectively.

    No, only four states—Alaska, Oregon, Washington, and Hawaii—experienced slight decreases in their average gas prices during July.

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    How It Developed

    Gas prices rose sharply across the U.S. after the Iran war began in late February.
    The national average gas price peaked at roughly $4.56 per gallon in May.
    Gas prices fell before climbing again, with the national average at $4.11 by the end of July.
    AAA's national average gas price rose by 6.73% in July.
    Only four states saw prices drop slightly in the past month: Alaska, Oregon, Washington, and Hawaii.
    Twenty states saw price increases outpacing the national average.
    North Carolina recorded an 8.16% increase in gas prices in July.
    Rhode Island recorded an 8.19% increase in gas prices in July.

    Sources

    T1
    The 20 states where gas prices rose the most in JulyBusiness Insider

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