Consumers dealing with sticky inflation for a number of everyday purchases are finding no relief at the gas pump. Fuel prices have risen sharply over the last four weeks.
According to AAA, the national average price of regular gas is $3.49 a gallon. That's about 10 cents higher than a week ago but the price is nearly 20 cents higher than a month ago. A 15 gallon fillup costs $3 more than it did in mid-February.
The only saving grace is the fact that regular gas costs about the same as it did a year ago. Even so, nearly everything else costs more.
“The national average price of gasoline has risen for the third straight week,” Patrick DeHaan, head of Petroleum Analysis at GasBuddy, wrote in a post on X. “We're about two cents above a year ago, and are likely to keep heading higher.”
DeHaan points out that the U.S. has entered the period when oil refineries begin making summer-grade fuel, which is more costly than the gasoline used during the winter months. At the same time, oil prices have been moving steadily higher.
Now that spring has arrived, motorists are driving a little more. The Energy Information Administration (EIA) reports gasoline demand is slowly rising. Meanwhile, total domestic gasoline stocks recently dropped by 5.6 million barrels to 234.1 million barrels, which is also putting pressure on prices.
Prices are rising fastest in Michigan. The statewide average price of regular gas there has increased by 10 cents in the last week and 40 cents a gallon over the last month.
Here are the states with the most expensive regular gasoline:
| California | $4.90 |
| Hawaii | $4.69 |
| Washington | $4.30 |
| Nevada | $4.19 |
| Oregon | $4.07 |
| Alaska | $3.80 |
| Arizona | $3.71 |
| Illinois | $3.71 |
| Michigan | $3.65 |
| Pennsylvania | $3.58 |
These are the states with the lowest prices for regular gasoline:
| Mississippi | $3.03 |
| Texas | $3.06 |
| Colorado | $3.06 |
| Oklahoma | $3.07 |
| Tennessee | $3.09 |
| Wyoming | $3.11 |
| Louisiana | $3.13 |
| Kentucky | $3.13 |
| Kansas | $3.15 |
| Nebraska | $3.16 |
Photo Credit: Consumer Affairs News Department Images
Posted: 2024-03-19 11:48:36
