Higher gas prices are happening and more increases seem inevitable, as oil surges in the wake of Russia’s invasion of Ukraine.
West Texas Intermediate has jumped 25% in less than two weeks as the world has moved to economically isolate Russia in response to the invasion.
Americans are seeing the impact at the gas pump, where prices have jumped in recent days.
But because some states charge lower gas taxes, and people drive different cars in different states, it can be hard to get a handle on how much more money overall they are likely to have to spend as gasoline prices rise.
Using data from Insurify and Metromile, TheStreet analyzed which state’s drivers are likely to see the biggest hit to their wallets. The results are based on the average number of miles driven in each state and the mileage of the most popular car or truck in that state. While it’s not a perfect model, it can serve to give at least a sense of where the pain will be felt most.
Here’s what we found out.
As of Friday, regular unleaded gasoline prices ranged from $3.447 a gallon in Arkansas to $5.074 in California, with the national average around $3.84, according to AAA data.
The average American drives 14,664 miles a year, based on Metromile data. Distances driven range from a low of 7,013 miles in the District of Columbia, to a high of 24,069 in Wyoming.
The most popular car or truck in any given state, according to Insurify, comes from a group of nine vehicles that includes the Honda Civic, the Chevrolet Impala and the Ford F-Series trucks.
The mileage figures for those vehicles ranges from a low of 18/22 mpg for the Toyota Tacoma – the most popular vehicle in Hawaii – to a high of 31/40 for the Toyota Corolla – favored by frugal drivers in Vermont and Florida.
Based on all that, the average American spends between $1,838 (city) and $2,100 (highway) a year on gasoline at current prices.
After the District of Columbia, the state where people spend the least per year on gasoline is Rhode Island. There, a year’s worth of gasoline for a Honda Accord driven the state average of 9,991 miles costs between $1,010 and $1,280.
At the other end of the scale, the state where people spend the most on gasoline every year is Wyoming. There, a year’s worth of gasoline for an Ford F-Series truck driven the state average of 24,069 miles costs $3,586.
That’s a bit of an outlier, of course. In New Mexico, the next most expensive state, a year of gasoline runs $2,982.
Because gas prices vary by state, the impact of a rise in prices on total gasoline spending per year will vary as well.
Still, assuming gasoline prices everywhere hit $5 a gallon, as they already have in California, here are the states that would see their annual total gasoline spending rise the most.
Wyoming, up $1,428 to $5,014;
Missouri, up $1,169 to $3,859;
Oklahoma, up $1,139 to $3,687;
Arkansas, up $1,115 to $3,588;
North Dakota, up $1,043 to $3,681;
Texas, up $1,017 to $3,369;
and New Mexico up $1,009 to $3,991.
Oh, and each one of those states shares something else in common. The most popular vehicle in all of them is an Ford F-Series truck.