US Gas Prices Decrease By As Much As 14% — See Where Your State Stacks Up
Average monthly gas prices are down $1.80 per gallon from their peak in June 2022, according to the newest LendingTree analysis.
Meanwhile, average daily gas prices are down 5.8% year over year as of Jan. 11 — ranging from an increase of 4.4% in California to a decrease of 14.3% in Wisconsin.
We looked at the biggest fluctuations in gas prices between Jan. 11, 2023, and Jan. 11, 2024. In addition to highlighting which states and metros saw the biggest increases (and decreases), we’ll explain how you can utilize credit card rewards to earn cash back at the pump.
Key findings
- The average U.S. gas price on Jan. 11, 2024, was $3.08 per gallon — down 5.8% from $3.27 a year ago.
- The average gas price per gallon in 2023 was $3.52, reaching a peak in August and September before falling to its lowest point in December.
- The highest average gas prices are in Hawaii ($4.68 per gallon), California ($4.62) and Washington ($4.04).
- Oklahoma has the lowest average gas price ($2.59 per gallon), ahead of Arkansas and Missouri (tied at $2.63).
- Average gas prices jumped the most between Jan. 11, 2023, and Jan. 11, 2024, in California (4.4%), Georgia (2.6%) and Washington (2.5%).
- Average gas prices decreased the most between Jan. 11, 2023, and Jan. 11, 2024, in Wisconsin (14.3%), Utah (13.8%) and Colorado (13.4%).
- By metro, average gas prices jumped the most in Walla Walla, Wash. (12.1%), Merced, Calif. (8.5%), and Chico, Calif. (8.3%).
- By metro, average gas prices decreased the most in Casper, Wyo. (21.1%), Pocatello, Idaho (19.6%), and Pueblo, Colo. (18.8%).
Average gas prices fall 5.8% nationwide — here’s how they fluctuated
On Jan. 11, 2024, the average U.S. gas price was $3.08 per gallon. That’s a relief for many U.S. drivers, as it’s down 5.8% from $3.27 on Jan. 11, 2023.
Much to the pain of most U.S. consumers’ pockets, the average gas price per gallon in 2023 was $3.52. At the beginning of the year, the average price was $3.34. Prices peaked at $3.84 in August and September before tumbling to the lowest average of the year ($3.13) in December.
Average gas prices in 2023
| Month | Average price per gallon |
|---|---|
| January | $3.34 |
| February | $3.39 |
| March | $3.42 |
| April | $3.60 |
| May | $3.56 |
| June | $3.57 |
| July | $3.60 |
| August | $3.84 |
| September | $3.84 |
| October | $3.61 |
| November | $3.32 |
| December | $3.13 |
Source: U.S. Energy Information Administration (EIA).
It’s worth noting how gas prices dipped in 2023 compared to 2022. To put it into perspective, six of the 10 months with the highest average gas prices dating to 1992 occurred in 2022 — with the year claiming the top five spots. Notably, the only other months where average gas prices reached over $4 a gallon were June and July 2008, when demand was high but global oil production was low.
Highest gas prices (historical)
| Rank | Month | Average price per gallon |
|---|---|---|
| 1 | June 2022 | $4.93 |
| 2 | July 2022 | $4.56 |
| 3 | May 2022 | $4.44 |
| 4 | March 2022 | $4.22 |
| 5 | April 2022 | $4.11 |
| 6 | July 2008 | $4.06 |
| 7 | June 2008 | $4.05 |
| 8 | August 2022 | $3.98 |
| 9 | May 2011 | $3.91 |
| 10 | April 2012 | $3.90 |
Source: EIA. Note: Prices aren’t adjusted for inflation.
Still, by year, 2022 wasn’t the worst as far as gas prices go. When adjusted for inflation, 2012 had the highest average gas price at $4.80 per gallon. Before adjusting for inflation, it was $3.62 per gallon.
Average gas prices dating to 1992
| Year | Average price per gallon | Average price per gallon, adjusted for inflation |
|---|---|---|
| 1992 | $1.09 | $2.36 |
| 1993 | $1.07 | $2.25 |
| 1994 | $1.08 | $2.21 |
| 1995 | $1.11 | $2.22 |
| 1996 | $1.20 | $2.33 |
| 1997 | $1.20 | $2.28 |
| 1998 | $1.03 | $1.93 |
| 1999 | $1.14 | $2.08 |
| 2000 | $1.48 | $2.63 |
| 2001 | $1.42 | $2.44 |
| 2002 | $1.35 | $2.28 |
| 2003 | $1.56 | $2.58 |
| 2004 | $1.85 | $2.99 |
| 2005 | $2.27 | $3.54 |
| 2006 | $2.57 | $3.89 |
| 2007 | $2.80 | $4.11 |
| 2008 | $3.25 | $4.59 |
| 2009 | $2.35 | $3.34 |
| 2010 | $2.78 | $3.89 |
| 2011 | $3.52 | $4.77 |
| 2012 | $3.62 | $4.80 |
| 2013 | $3.51 | $4.58 |
| 2014 | $3.36 | $4.32 |
| 2015 | $2.43 | $3.12 |
| 2016 | $2.14 | $2.72 |
| 2017 | $2.42 | $3.00 |
| 2018 | $2.72 | $3.30 |
| 2019 | $2.60 | $3.10 |
| 2020 | $2.17 | $2.55 |
| 2021 | $3.01 | $3.38 |
| 2022 | $3.95 | $4.11 |
| 2023 | $3.52 | $3.52 |
Source: EIA.
Average gas prices are highest in Hawaii, lowest in Oklahoma
As of Jan. 11, 2024, the highest average gas price is in Hawaii at $4.68 per gallon. That’s followed by California ($4.62) and Washington ($4.04).
States with the highest average gas prices
| Rank | State | Average price per gallon |
|---|---|---|
| 1 | Hawaii | $4.68 |
| 2 | California | $4.62 |
| 3 | Washington | $4.04 |
| 4 | Nevada | $3.85 |
| 5 | Oregon | $3.69 |
Source: AAA. Note: Prices as of Jan. 11, 2024.
On the other hand, Oklahoma has the lowest average gas price at $2.59 per gallon. That’s ahead of Arkansas and Missouri (tied at $2.63).
States with the lowest average gas prices
| Rank | State | Average price per gallon |
|---|---|---|
| 1 | Oklahoma | $2.59 |
| 2 | Arkansas | $2.63 |
| 2 | Missouri | $2.63 |
| 4 | Mississippi | $2.66 |
| 5 | Wisconsin | $2.67 |
Source: AAA. Note: Prices as of Jan. 11, 2024.
Full rankings
Highest average gas prices (by state)
| Rank | State | Average price per gallon | Percentage difference from average gas price in U.S. |
|---|---|---|---|
| 1 | Hawaii | $4.68 | 51.9% |
| 2 | California | $4.62 | 50.0% |
| 3 | Washington | $4.04 | 31.4% |
| 4 | Nevada | $3.85 | 25.3% |
| 5 | Oregon | $3.69 | 19.9% |
| 6 | Alaska | $3.58 | 16.3% |
| 7 | Pennsylvania | $3.35 | 8.8% |
| 8 | New York | $3.30 | 7.4% |
| 9 | Vermont | $3.24 | 5.2% |
| 10 | Arizona | $3.22 | 4.6% |
| 11 | District of Columbia | $3.19 | 3.8% |
| 11 | Maine | $3.19 | 3.6% |
| 13 | Connecticut | $3.16 | 2.8% |
| 13 | Massachusetts | $3.16 | 2.8% |
| 15 | Florida | $3.13 | 1.6% |
| 16 | Idaho | $3.09 | 0.5% |
| 17 | New Hampshire | $3.07 | -0.2% |
| 17 | Maryland | $3.07 | -0.3% |
| 19 | Illinois | $3.06 | -0.6% |
| 19 | New Jersey | $3.06 | -0.6% |
| 21 | Rhode Island | $3.05 | -0.8% |
| 22 | Georgia | $2.95 | -4.0% |
| 23 | Michigan | $2.94 | -4.6% |
| 24 | Virginia | $2.93 | -4.9% |
| 25 | Montana | $2.92 | -5.1% |
| 25 | Delaware | $2.92 | -5.1% |
| 27 | Indiana | $2.91 | -5.4% |
| 27 | North Carolina | $2.91 | -5.5% |
| 29 | West Virginia | $2.89 | -6.0% |
| 30 | South Dakota | $2.88 | -6.3% |
| 31 | Ohio | $2.84 | -7.7% |
| 31 | New Mexico | $2.84 | -7.8% |
| 33 | South Carolina | $2.83 | -8.2% |
| 34 | Kentucky | $2.82 | -8.3% |
| 34 | North Dakota | $2.82 | -8.4% |
| 36 | Minnesota | $2.81 | -8.8% |
| 37 | Utah | $2.79 | -9.3% |
| 37 | Alabama | $2.79 | -9.3% |
| 39 | Nebraska | $2.78 | -9.7% |
| 40 | Iowa | $2.75 | -10.5% |
| 40 | Wyoming | $2.75 | -10.5% |
| 40 | Tennessee | $2.75 | -10.6% |
| 43 | Louisiana | $2.74 | -10.9% |
| 44 | Colorado | $2.71 | -12.0% |
| 45 | Texas | $2.68 | -13.0% |
| 45 | Kansas | $2.68 | -13.0% |
| 47 | Wisconsin | $2.67 | -13.4% |
| 48 | Mississippi | $2.66 | -13.5% |
| 49 | Missouri | $2.63 | -14.4% |
| 49 | Arkansas | $2.63 | -14.6% |
| 51 | Oklahoma | $2.59 | -15.8% |
Source: AAA. Note: Prices as of Jan. 11, 2024.
Where average prices jumped (and fell) the most
It’s also worth noting which states saw the biggest year-over-year changes. Average gas prices jumped the most between Jan. 11, 2023, and Jan. 11, 2024, in California — $4.42 to $4.62, an increase of 4.4%.
That’s followed by Georgia, where prices rose 2.6% from $2.88 to $2.95, and Washington, where prices rose 2.5% from $3.95 to $4.04.
States with the biggest jumps in average gas prices
| Rank | State | Average gas price, Jan. 11, 2024 | Average gas price, Jan. 11, 2023 | YoY % change | YoY $ change |
|---|---|---|---|---|---|
| 1 | California | $4.62 | $4.42 | 4.4% | -$0.20 |
| 2 | Georgia | $2.95 | $2.88 | 2.6% | -$0.08 |
| 3 | Washington | $4.04 | $3.95 | 2.5% | -$0.10 |
| 4 | Connecticut | $3.16 | $3.17 | 0.0% | $0.00 |
| 4 | Oregon | $3.69 | $3.69 | 0.0% | $0.00 |
Source: LendingTree analysis of AAA data. Note: Year-over-year changes were calculated using unrounded numbers.
Meanwhile, Wisconsin’s average gas prices decreased the most between Jan. 11, 2023, and Jan. 11, 2024. Here, gas prices fell 14.3% from $3.11 to $2.67. That’s followed by Utah, where prices fell 13.8% from $3.24 to $2.79, and Colorado, where prices fell 13.4% from $3.13 to $2.71.
States with the biggest decreases in average gas prices
| Rank | State | Average gas price, Jan. 11, 2024 | Average gas price, Jan. 11, 2023 | YoY % change | YoY $ change |
|---|---|---|---|---|---|
| 1 | Wisconsin | $2.67 | $3.11 | -14.3% | $0.44 |
| 2 | Utah | $2.79 | $3.24 | -13.8% | $0.45 |
| 3 | Colorado | $2.71 | $3.13 | -13.4% | $0.42 |
| 4 | Ohio | $2.84 | $3.26 | -12.9% | $0.42 |
| 5 | Iowa | $2.75 | $3.15 | -12.5% | $0.39 |
Source: LendingTree analysis of AAA data. Note: Year-over-year changes were calculated using unrounded numbers.
Full rankings
Changes in average gas prices (by state)
| Rank | State | Average gas price, Jan. 11, 2024 | Average gas price, Jan. 11, 2023 | YoY % change | YoY $ change |
|---|---|---|---|---|---|
| 1 | California | $4.62 | $4.42 | 4.4% | -$0.20 |
| 2 | Georgia | $2.95 | $2.88 | 2.6% | -$0.08 |
| 3 | Washington | $4.04 | $3.95 | 2.5% | -$0.10 |
| 4 | Connecticut | $3.16 | $3.17 | 0.0% | $0.00 |
| 4 | Oregon | $3.69 | $3.69 | 0.0% | $0.00 |
| 6 | Montana | $2.92 | $3.00 | -2.5% | $0.08 |
| 6 | Nevada | $3.85 | $3.95 | -2.5% | $0.10 |
| 8 | New York | $3.30 | $3.44 | -4.0% | $0.14 |
| 9 | New Hampshire | $3.07 | $3.20 | -4.1% | $0.13 |
| 10 | Massachusetts | $3.16 | $3.31 | -4.4% | $0.15 |
| 10 | Alaska | $3.58 | $3.75 | -4.4% | $0.17 |
| 12 | Florida | $3.13 | $3.28 | -4.6% | $0.15 |
| 12 | Kentucky | $2.82 | $2.96 | -4.6% | $0.14 |
| 14 | Vermont | $3.24 | $3.41 | -5.0% | $0.17 |
| 15 | Maine | $3.19 | $3.36 | -5.1% | $0.17 |
| 16 | South Carolina | $2.83 | $2.99 | -5.5% | $0.17 |
| 16 | Arizona | $3.22 | $3.41 | -5.5% | $0.19 |
| 18 | Texas | $2.68 | $2.84 | -5.7% | $0.16 |
| 18 | Rhode Island | $3.05 | $3.24 | -5.7% | $0.18 |
| 20 | Louisiana | $2.74 | $2.93 | -6.6% | $0.19 |
| 20 | Hawaii | $4.68 | $5.00 | -6.6% | $0.33 |
| 22 | New Jersey | $3.06 | $3.28 | -6.8% | $0.22 |
| 23 | North Carolina | $2.91 | $3.12 | -6.9% | $0.21 |
| 24 | Tennessee | $2.75 | $2.97 | -7.3% | $0.22 |
| 25 | Maryland | $3.07 | $3.33 | -7.7% | $0.26 |
| 25 | Mississippi | $2.66 | $2.89 | -7.7% | $0.22 |
| 25 | District of Columbia | $3.19 | $3.46 | -7.7% | $0.27 |
| 25 | Virginia | $2.93 | $3.17 | -7.7% | $0.24 |
| 29 | Kansas | $2.68 | $2.90 | -7.9% | $0.23 |
| 30 | Alabama | $2.79 | $3.03 | -8.0% | $0.24 |
| 31 | Pennsylvania | $3.35 | $3.64 | -8.1% | $0.30 |
| 32 | New Mexico | $2.84 | $3.09 | -8.2% | $0.26 |
| 33 | Idaho | $3.09 | $3.39 | -8.9% | $0.30 |
| 34 | West Virginia | $2.89 | $3.18 | -9.0% | $0.29 |
| 35 | North Dakota | $2.82 | $3.11 | -9.4% | $0.29 |
| 36 | Indiana | $2.91 | $3.22 | -9.5% | $0.30 |
| 37 | Delaware | $2.92 | $3.23 | -9.7% | $0.31 |
| 38 | Missouri | $2.63 | $2.93 | -10.1% | $0.30 |
| 39 | Minnesota | $2.81 | $3.13 | -10.4% | $0.33 |
| 39 | South Dakota | $2.88 | $3.22 | -10.4% | $0.33 |
| 41 | Nebraska | $2.78 | $3.11 | -10.6% | $0.33 |
| 42 | Michigan | $2.94 | $3.29 | -10.8% | $0.36 |
| 43 | Arkansas | $2.63 | $2.95 | -11.0% | $0.33 |
| 44 | Illinois | $3.06 | $3.45 | -11.3% | $0.39 |
| 44 | Oklahoma | $2.59 | $2.92 | -11.3% | $0.33 |
| 46 | Wyoming | $2.75 | $3.11 | -11.5% | $0.36 |
| 47 | Iowa | $2.75 | $3.15 | -12.5% | $0.39 |
| 48 | Ohio | $2.84 | $3.26 | -12.9% | $0.42 |
| 49 | Colorado | $2.71 | $3.13 | -13.4% | $0.42 |
| 50 | Utah | $2.79 | $3.24 | -13.8% | $0.45 |
| 51 | Wisconsin | $2.67 | $3.11 | -14.3% | $0.44 |
Source: LendingTree analysis of AAA data. Note: Year-over-year changes were calculated using unrounded numbers.
California metros dominate list of biggest increases
By metro, the fluctuations are even more pronounced. California metros saw average gas prices jump the most — even if the state didn’t occupy the top spot. At the top of the list, Walla Walla, Wash., saw the largest jump, 12.1%, from $3.87 to $4.34 per gallon. That’s followed by Merced, Calif., where prices rose 8.5% from $4.14 to $4.49, and Chico, Calif., where prices rose 8.3% from $4.12 to $4.46.
Metros with the biggest jumps in average gas prices
| Rank | Metro | Average gas price, Jan. 11, 2024 | Average gas price, Jan. 11, 2023 | YoY % change | YoY $ change |
|---|---|---|---|---|---|
| 1 | Walla Walla, WA | $4.34 | $3.87 | 12.1% | $0.47 |
| 2 | Merced, CA | $4.49 | $4.14 | 8.5% | $0.35 |
| 3 | Chico, CA | $4.46 | $4.12 | 8.3% | $0.34 |
| 4 | Visalia, CA | $4.62 | $4.31 | 7.2% | $0.31 |
| 5 | Sacramento, CA | $4.55 | $4.26 | 6.8% | $0.29 |
| 5 | Madera, CA | $4.54 | $4.25 | 6.8% | $0.29 |
| 7 | Fresno, CA | $4.53 | $4.25 | 6.6% | $0.28 |
| 7 | Modesto, CA | $4.36 | $4.09 | 6.6% | $0.27 |
| 9 | Stockton, CA | $4.40 | $4.13 | 6.5% | $0.27 |
| 10 | Santa Rosa, CA | $4.78 | $4.50 | 6.2% | $0.28 |
| 10 | Yuba City, CA | $4.27 | $4.02 | 6.2% | $0.25 |
Source: LendingTree analysis of AAA data. Note: Year-over-year changes were calculated using unrounded numbers.
Meanwhile, the metro with the largest drop in gas prices was in Wyoming. Average gas prices decreased the most in Casper, where they fell 21.1% from $2.80 to $2.21. That’s followed by Pocatello, Idaho, where prices dropped 19.6% from $3.32 to $2.67, and Pueblo, Colo., where prices dropped 18.8% from $3.09 to $2.51.
Metros with the biggest decreases in average gas prices
| Rank | Metro | Average gas price, Jan. 11, 2024 | Average gas price, Jan. 11, 2023 | YoY % change | YoY $ change |
|---|---|---|---|---|---|
| 1 | Casper, WY | $2.21 | $2.80 | -21.1% | -$0.59 |
| 2 | Pocatello, ID | $2.67 | $3.32 | -19.6% | -$0.65 |
| 3 | Pueblo, CO | $2.51 | $3.09 | -18.8% | -$0.58 |
| 4 | Grand Forks, ND | $2.59 | $3.18 | -18.6% | -$0.59 |
| 4 | Idaho Falls, ID | $2.75 | $3.38 | -18.6% | -$0.63 |
| 4 | Wheeling, WV | $2.63 | $3.23 | -18.6% | -$0.60 |
| 7 | Greeley, CO | $2.51 | $3.08 | -18.5% | -$0.57 |
| 8 | Colorado Springs, CO | $2.54 | $3.11 | -18.3% | -$0.57 |
| 9 | Quincy, IL | $2.83 | $3.46 | -18.2% | -$0.63 |
| 10 | Appleton, WI | $2.50 | $3.05 | -18.0% | -$0.55 |
Source: LendingTree analysis of AAA data. Note: Year-over-year changes were calculated using unrounded numbers.
Utilizing credit cards for cash back at the gas station: Expert tips
Although gas prices have fallen across the U.S., drivers should keep in mind that these prices will likely stay relatively high. In fact, the U.S. Energy Information Administration (EIA) forecasts gas to be $3.36 per gallon in 2024 and $3.24 per gallon in 2025.
However, LendingTree chief credit analyst Matt Schulz says that isn’t necessarily the end of the world for drivers, as there are a few things they can do to save on gas at the pump.
His first tip? Shop around.
Next, Schulz says to leverage credit cards with the best gas station rewards.
“Whether you’re loyal to one specific gas station chain or just looking to save on gas prices no matter where you fill up, plenty of credit cards can help you,” he says. “Just know that gas station-specific cards tend to have higher-than-average APRs, so if you’re going to use them, make sure you pay them off in full every month. Otherwise, the amount you save on gas can quickly be outweighed by how much you accrue in interest.”
Methodology
LendingTree researchers analyzed AAA data on average regular gas prices in states and metros. Prices are as of Jan. 11, 2024, and are compared to those on Jan. 11, 2023.
U.S. Energy Information Administration (EIA) data was used for average historical prices for regular gas per gallon.
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