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Surprise: Gas Prices Rebound

National Average is Three Cents Above a Month Ago

By Joe Benton
ConsumerAffairs.com

February 16, 2007

• Gas Prices Trickle Down • Why Are Oil Prices Falling? • Labor Day Gas Prices Up a Penny • Gas Prices Fall for 37 Days • Gas Prices Slide 8 Percent from Record • Gas Prices Creep Down • Oil Price Trend May Be Good News For Consumers • Gasoline Drops Below $3.90 a Gallon • Gas Prices Pull Back Slowly • Oil Prices Fall As Storm Misses Rigs • Latest Gas Price Round-Up • 'Run Your Car On Water' Scheme Could Leave Consumers All Wet • Unregulated Energy Trading Blamed for Much of Gas Price Gusher • Airlines Join Effort To Limit Oil Speculators • Questions Raised about MyGallons.com • 'Hypermiling' Is Dangerous, Says AAA • Struggling Drivers Blame Washington for High Gas Prices • What’s Really Fueling Those Sky-High Oil Prices • Credit Card Fees at the Pump are a 'Hidden Tax' on Consumers • Survey: 3 Out of 4 Angry About High Gas Prices • $2 A Gallon Gas Possible, Analysts Tell Congress • Speculators Buy More Oil Contracts Than Oil Companies • Saudis to Pump More Oil • Limiting Oil Speculators Gains Ground • Congress To Probe Oil Price Spike • Oil Market 'Saturated,' Iran Claims • Feds See No Relief from High Gas Prices • High Gas Prices Could Mean Lower Insurance Rates • High Gas Prices Good For Kia, Honda • Gas Prices Rip Past $4 and Keep Climbing • Administration, OPEC See Different Causes Of Oil Surge • Feds Probing Possible Oil Market Manipulation • Beware of Fuel Sippers Sipping High-Test • Retailers Respond to High Gas Prices with Discounts, Promotions • Rushing Into a Smaller Car Too Soon May Not Save Money • Hybrid Sales and Prices Climb in Lockstep with Gas Prices • Truckers Bemoan Burden of High Diesel Costs • Gas Prices Biting into Worker Productivity • Consumers Warned About Gas-Saving Schemes • Is Tony Soprano Controlling Gas Prices? • Oil & Gas: The New Bubble • Critics: New Federal Gas Mileage Standard Falls Short • Consumers Feeling Pain of Skyrocketing Gas Prices • New Gas Price Record Forecasts Expensive Summer Driving Season --- • More ...

Proving that when it comes to gasoline prices, what comes down must go up, the average price of a gallon of regular gasoline is now $2.25, three cents more than one month ago and just a penny less than one year ago.

That makes the rise in gasoline prices roughly seven cents in the last three weeks.

Oil industry analyst Trilby Lundberg does not expect runaway pump prices however. "If crude oil prices don't rise further, we will probably see just moderate gasoline price hikes at the pump, if that," Lundberg said.

Mid-grade gasoline is selling for an average national price of $2.39, premium goes for $2.47 and diesel sells for $2.58 a gallon.

South Carolina has the lowest statewide average gasoline price at $2.07 for a gallon of regular followed closely by New Jersey at 2:08 a gallon.

The cheapest gallon of regular unleaded self-serve gasoline is on sale in Evanston, Wyoming at $1.87 a gallon. The most expensive gallon is found in Wailuku, Hawaii at $3.19.

Here is a look at gasoline some more gasoline prices from around the country in the ConsumerAffairs.com Gas Price Round Up.

Texas: Retail gasoline prices rose for a second week in a row across Texas, according to the AAA Texas gasoline price survey.

Regular grade is averaging $2.11 per gallon across the state, up 4 cents from last week. "Pump prices increased for the second straight week in the state and across the U.S.," said auto club spokeswoman Rose Rougeau.

"It is likely the price of gas will move higher over the next few weeks. This is because crude has rallied from recent lows near $51 a barrel to $58 a barrel and refineries are getting ready to make their annual switch to the cleaner-burning summer blends," she said.

The most expensive gas prices in this week's survey were found in Amarillo, where they rose 6 cents to an average of $2.22 per gallon. The cheapest gas was in Corpus Christi, where prices rose 4 cents to an average of $2.03 per gallon.

California: Tight supplies in the California gasoline market have driven prices up by more than a penny a day in Southern California over the past week. It's unclear, however, whether this represents the beginning of what has become an annual springtime price spike at the pump, according to the Automobile Club of Southern California's Weekend Gas Watch.

The average price of self-serve regular gasoline in the Los Angeles-Long Beach area is $2.64, which is 8.4 cents higher than last week, six cents higher than last month, and seven cents higher than last year.

In San Diego, the price is $2.67, which is 9.9 cents above last week's price, five cents above last month, and 10 cents above last year.

On the Central Coast, the average price is $2.809, up 8.1 cents from last week, half a cent above last month, and 10 cents higher than last year.

In the Inland Empire, the average price is $2.65 eight cents above last week, four cents higher than last month, and six cents higher than last year.

"Supplies have tightened in California because of issues such as last week's shutdown of the state's fifth-largest crude oil field after an explosion," said Auto Club spokesperson Carol Thorp. "But even without disasters, we've seen a pattern over the last seven years of a spring gas price spike due to increased demand and consistently low inventories at this time of year. The Auto Club recommends that during periods of price increases such as this one, drivers should make extra efforts to conserve gasoline," she said.

The sight of $3 gasoline is already a reality in several cities in California. The $3 "barrier" has been broken by gas stations in Lee Vining, June Lake and Shoshone.

Prices are nearing $3 in Baker, Yermo and Goleta at $2.99 per gallon.

Arizona: Gas prices are rising again. Prices are up two and a-half cents from last week averaging $2.26 per gallon for unleaded, according to AAA Arizona.

The increase is less than the national increase, however.

Tucson drivers saw the biggest jump in prices across the state at 3.4 cents. Nevertheless, Tucson drivers they continue to pay the lowest statewide average at $2.17 per gallon, according to AAA.

Scottsdale drivers are paying the most in the state at $2.33 per gallon for regular.

Oregon: In Oregon, the statewide average went down a couple tenths of a cent to $2.42, but indications are the price decline, which began in early January, has run its course.

Compared to January 1, the current national average price is about 10-cents lower, and Oregon's statewide average is down 27-cents per gallon, but during the month, it consistently remained well above the national average.

"The price of crude is moving closer to the $60 per barrel mark and refineries are preparing for the March switch to the more expensive, cleaner burning summer fuel blends ," said AAA Public Affairs Director Elliott Eki. "In addition, some west coast refineries are conducting routine maintenance, and, regional demand for gasoline has increased."

At $2.42, Oregon's average gasoline price is 5th highest in the nation.

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