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Pump Prices Blast Through $3

Cost of a gallon of regular up 14 cents in one week

By Joe Benton
ConsumerAffairs.com

November 9, 2007    Spanish

• Oil and Gas Supplies Rise • Gas Prices Accelerate Their Decline • Gasoline Prices Down 19 Cents in a Week • Charlotte Gas Stations Make Refunds to Consumers • Oil Snaps Back As Markets Sense Post-Election Bounce • Gas Prices Settle Still Lower for Weekend • Gasoline Prices Keep Falling • Gas Below $3 Nationwide • Average Gas Price Down to Nearly $3 a Gallon • Gas Prices Drop, Along With Oil • Gas Prices Head Lower as Economy Slows • Gas Price Declines for 9 Days • Gas Prices Continue Downward Trend • Oil Prices Surge By Record $25 a Barrel • Gas Prices Drop for 5 Days • Price-Gouging Probes Spread to 6 States • Investigations of $5 Gas in North Carolina, Florida, and Virginia • Shortages, Price Hikes Follow Ike in Southeast • States Investigate Gasoline Price Gouging Claims • Pumping More U.S. Oil Won't Lower Prices, Consumer Group Says • Oil Prices Fall, Gas Prices Surge • Gas Prices Slide 8 Percent from Record --- • More ...

Gasoline prices shot up for the second straight week, bullying their way through the $3 mark to settle in at a national average price of $3.08, compared to $2.21 a year ago.

The cost of a gallon of regular gasoline is up 14 cents in just one week and there seems to be no end soon to the run-up at the pump.

Average gasoline prices are now above the $3 mark in 36 states and the District of Columbia. Californians suffer the highest average price for regular self-serve at $3.35. Consumers in New Jersey are paying the lowest average price per gallon at $2.86.

One month ago the national average price for a gallon of regular gasoline was $2.77 and one year ago the price was $2.21.

Midgrade is up this week 15 cents to $3.27 a gallon and premium is up 15 cents to $3.39 a gallon, according to AAA of Heathrow, Florida.

Diesel fuel rose 14 cents over the week to a national average record price of $3.41 a gallon.

The average price for E85 ethanol is now $2.50 a gallon. The price when adjusted to reflect E85's lower energy content is $3.29 a gallon.

Drivers in the Bronx borough of New York now pay the highest price for regular gasoline at $3.79 a gallon. In nearby Blackwood, New Jersey, drivers are paying $2.69 for a gallon of regular.

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

California: The highest gasoline prices are found in San Francisco at $3.50 with Oakland not far away at $3.41 a gallon.

At least one Oakland gasoline station was reported to be briefly charging above $4 a gallon for regular.

Gas prices climbed to within 20 cents of their all-time record highs in Southern California, jumping by about two cents a day in most areas, 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 $3.30, which is 13.7 cents higher than last week, 31 cents above last month, and 91 cents more than last year.

In San Diego, the price is $3.32, which is 13.3 cents above last week's price, 30 cents up from last month, and 90 cents higher than last year.

On the Central Coast, the average price is $3.42, up 14 cents from last week, 30 cents above last month, and 78 cents more than last year.

In the Inland Empire, the average price is $3.30, 13.6 cents more than last week, 31 cents above last month, and 91 cents higher than last year.

"Crude oil prices have been breaking records since September, and that increase has hit gas pump prices in a big way this week in Southern California and throughout the U.S.," said Auto Club spokesperson Jeffrey Spring.

Texas: Gasoline prices jumped more than 14 cents to $2.94 a gallon across the state, according to AAA of Texas.

Prices are up more than 14 cents in the Dallas-Fort Worth area this week, where motorists can now expect to pay an average of $2.95 per gallon of regular, self-serve gasoline.

"This is not good news for Texas motorists," said AAA Texas spokesman Paul Flaningan. "Retail gasoline prices are poised to climb even higher in the weeks ahead as we enter the Thanksgiving holiday shopping and travel seasons.

Oil Industry analysts say that with oil testing the $100 per barrel mark and the cold winter months ahead, increases in gasoline prices may not stabilize for the next six or seven weeks."

The Houston area has the state's cheapest gas at $2.86, an increase of 14 cents from last week.

Amarillo has the state's most expensive gas at $3.07 a gallon but that price is up nearly 16 cents from a week ago.

Florida: The average price of a gallon of unleaded gas in Florida is now $3.17. One month ago regular gasoline averaged $2.81 across the Sunshine state and one year regular sold for $2.22.

West Palm Beach gas prices are just above the statewide average at $3.19 a gallon.The cheapest gallon of regular gasoline is found Pensacola at $3.04.

Diesel gas is on the rise at $3.41, a new Florida record. Diesel has increased from $2.62 a year ago.

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