By Mark Huffman
ConsumerAffairs.com
April 30, 2010
The price of gasoline continued to rise this week after a two-week pause. The average price of self-serve regular today is $2.881 a gallon, up three cents from a week ago, according to AAA.
The price of diesel fuel is $3.085 a gallon, up nearly two cents from last week.
Prices at the pump began rising again after crude oil prices reversed their recent slide and started moving higher this week. A stronger U.S. dollar and growing confidence in the economic recovery help oil prices regain their upward momentum.
The only thing keeping gas prices in check at the moment is continued high unemployment.
"While there is a certain amount of positive sentiment on the markets the economy is generally improving, weak employment data continues to serve as a stark reminder of the severity of the recent recession," said Andrew Delmege, AAA's manager of regulatory affairs. "When job growth begins in a meaningful way many anticipate it will portend an increase in oil and gasoline consumption as well. As such, employment numbers continue to bear watching."
From a supply standpoint, the U.S. continues to have plenty of petroleum product on hand. The U.S. Energy Information Administration reported that crude oil stockpiles increased by two million barrels last week, while gasoline supplies also remain well above average.
The states with the most expensive gasoline today are:
Hawaii ($3.582)
Alaska ($3.504)
California ($3.125)
Utah ($3.114)
Washington ($3.096)
Idaho ($3.090)
New York ($3.045)
Illinois ($3.005)
Oregon ($2.983)
Nevada ($2.977)
The states with the cheapest gasoline today are:
South Carolina ($2.706)
Missouri ($2.709)
Mississippi ($2.748)
Tennessee ($2.754)
New Jersey ($2.756)
Texas ($2.757)
Oklahoma ($2.764)
Louisiana ($2.765)
Alabama ($2.770)
Georgia ($2.777)
