Complain about a product or service

Rise In Gas Prices Slows

Have pump prices peaked, or just paused?

By Mark Huffman
ConsumerAffairs.com

August 14, 2009

The national average price of diesel fuel is $2.68 a gallon, up slightly from yesterday's $2.676.

Prices at the pump began to decline after peaking at $2.70 a gallon the first week of June, only to start going up again in July. At the same time, U.S. supplies of gasoline and crude oil have remained near record highs.

What can consumers expect? Will prices fluctuate in that range or move decisively up or down?

"Barring unforeseen events, retail gasoline prices should mimic the stability of oil prices in the short term, with the national average staying around or slightly above $2.50 per gallon," said Andrew Delmege, AAA's manager of regulatory affairs.

Prices are highest in the West, with Hawaii and Alaska setting the bar at $3.24 and $3.21 respectively. In California, the average has also crept over $3 a gallon for the first time in several weeks, with a statewide average of $3.063 a gallon.

In California, the most expensive gas is in the San Francisco metro, with an average price of $3.139 a gallon. The cheapest fuel, and the only market where gas is below $3 a gallon, is in Yuba City, with an average price of $2.985 a gallon.

The cheapest gas in the nation tends to be in the southeast states. South Carolina has claimed honors for the nation's cheapest gas most of the summer. Today, the average price there is $2.429 a gallon.

As the U.S. approaches Labor Day Weekend, supplies of both crude oil and refined gasoline remain plentiful. The U.S. Energy Information Administration reported this week that U.S. supplies of crude oil rose by 2.5 million barrels. Gasoline stocks fell by a million barrels, but remain near record levels.

Report Your Experience
If you've had a bad experience -- or a good one -- with a consumer product or service, we'd like to hear about it. All complaints are reviewed by class action attorneys and are considered for publication on our site. Knowledge is power! Help spread the word. File your consumer report now.

Share		Follow us on Twitter.

Back to the top |