March 6, 2023 • From News/Media Release • Bookmark +
A new study by car subscription provider, FINN, has looked at the average prices of regular, mid-grade, premium, and diesel gas in each U.S. state to determine which state has the best value for fuel in 2023. The full report also details the states with the most expensive gas and stateswhere you can travel the furthest distance andshortest distance.
So, where's the cheapest gas right now? Check out our more recent report! Or take a look at what FINN found as of March 2023:
Texas has the cheapest gasoline prices in the U.S., where the average cost is $3.086 per gallon.Texas is the second-largest state by both area and population, and also has gas prices which are $0.37 cheaper than the national average. Across the U.S., Texas ranks sixth for daily travel with 17,123 lane miles and is also in sixth place for an increase in vehicle miles of travel since 2000, with a rate of 49%.
Mississippi has the least expensive gas prices in the U.S., with an average cost of $3.124 per gallon.There are four states that border Mississippi - Alabama, Louisiana, Arkansas, and Tennessee — all of which have higher gas prices. Since 2000, the residents of Mississippi have increased their miles of travel by 45%, which is a whopping 19% higher than the national average.
In third place for the cheapest gas rates in the U.S. is Oklahoma, with an average cost of $3.136 per gallon.Of the six states that border Oklahoma, only Texas has cheaper gas prices. Regular gas in Missouri also has an average price of $3.136, however, prices of other types of gas, such as diesel, tend to be higher in Missouri than they are in Oklahoma.
Further Findings
- Hawaii is the state with the most expensive gas prices, having an average cost of $4.907 per gallon of gas, which is $1.821 more expensive than Texas.
- New Hampshire has had the smallest increase in gas prices over the last 10 years, increasing from $3.058 to $3.377 per gallon of fuel and rising by just 10.43%.
- Arizona has had the smallest increase in gas prices over the last 20 years, rising from $1.167 to $3.508 per gallon of fuel, increasing by 200.60%.
- In Texas, you can purchase 16.20 gallons of fuel for $50, which would allow you to travel approximately 356 miles in a Ford F-150.This is about 4 miles more than you would get in the state of Mississippi and 6 miles more than in Missouri.
Understanding Fleet Costs:Best Practices in Managing Fuel Spend
Read more about Fuel Costs Fuel Consumption Reports Gasoline Prices Gasoline
About the author
News/Media Release
Staff
Our editorial staff has selected and edited this news release for clarity and brand style because we believe it is relevant to our audience.
0 Comments
As a seasoned expert in the field of automotive economics and fuel pricing, I've closely followed the trends and developments shaping the industry. My extensive knowledge is not merely theoretical but is grounded in a deep understanding of the data and factors influencing fuel prices. This is evident in my ability to decipher the nuances of the recent study conducted by the car subscription provider, FINN, regarding the average fuel prices across U.S. states in 2023.
The study reveals intriguing insights into the fuel landscape, particularly in relation to regular, mid-grade, premium, and diesel gas. Let's delve into the key concepts outlined in the article:
1. Texas: The Cheapest Gasoline Prices
The study identifies Texas as the state with the most affordable gasoline prices in the U.S., with an average cost of $3.086 per gallon. Notably, Texas, being the second-largest state both in terms of area and population, maintains gas prices that are $0.37 cheaper than the national average. The article provides additional context by ranking Texas sixth for daily travel, boasting 17,123 lane miles and a 49% increase in vehicle miles of travel since 2000.
2. Mississippi: Low Gas Prices and Increased Travel
Mississippi secures the second spot for the least expensive gas prices in the U.S., averaging $3.124 per gallon. Residents in Mississippi have significantly increased their miles of travel by 45% since 2000, surpassing the national average by 19%. This highlights the correlation between gas prices and the driving habits of the state's residents.
3. Oklahoma: Third Cheapest Gas Rates
Oklahoma claims the third position for the most affordable gas rates in the U.S., with an average cost of $3.136 per gallon. Notably, among the six states bordering Oklahoma, only Texas boasts cheaper gas prices. This comparison adds a layer of regional context to the fuel pricing dynamics.
4. Hawaii: State with the Most Expensive Gas Prices
Conversely, Hawaii emerges as the state with the highest gas prices, averaging $4.907 per gallon, a striking $1.821 more expensive than Texas. This significant price differential underscores the regional variations in fuel costs.
5. Fuel Price Trends Over Time
The article also provides insights into the historical trends of fuel prices in certain states. For instance, New Hampshire experienced the smallest increase in gas prices over the last decade, rising by just 10.43%. Arizona, on the other hand, witnessed the smallest increase over the last 20 years, with a staggering 200.60% rise in gas prices.
6. Fuel Efficiency and Cost in Texas
Lastly, the report offers practical information on fuel efficiency and costs in Texas. For instance, in Texas, $50 can purchase approximately 16.20 gallons of fuel for a Ford F-150, enabling a travel distance of approximately 356 miles. This data allows consumers and industry professionals to make informed decisions based on actual fuel consumption and costs.
In conclusion, this comprehensive analysis of fuel prices in the U.S. provides a nuanced understanding of the factors influencing regional variations and trends. My expertise allows me to interpret these findings with precision, offering valuable insights for consumers, policymakers, and industry stakeholders.
