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Consumer Affairs

Gas Prices Jump Nickel A Gallon

Dollar's weakness fuels prices at the pump


With the U.S. dollar headed lower, the price of gasoline at the pump is headed higher. The average price of self-serve regular jumped five cents a gallon in the last seven days, to $2.833, according to AAA.

 Prices have risen sharply at a time of year when they usually go down, jumping 14 cents a gallon over the last two weeks.

 Today's average price of diesel fuel is  $3.096, up three cents a gallon in the last seven days.

 Gasoline prices are rising along with crude oil prices, which have shot past $80 a barrel in the last two weeks.

"In considering the causes for the surge in October crude prices, many analysts look no further than the relative weakness of the dollar," said Andrew Delmege, AAA's manager of regulatory affairs. "The strength of the dollar tends to have an inverse reaction to crude prices meaning that when the dollar is weaker crude prices tend to increase. In this case, the comparative weakness of U.S. currency is viewed as perhaps the strongest link to the recent growth in crude prices."

While gasoline prices have risen generally across the nation, some things are little changed. The cheapest prices continue to be found in the southeastern states while the most expensive gas is in the west.

The states with the most expensive gasoline today are:

  • Alaska ($3.486)
  • Hawaii ($3.476)
  • California ($3.132)
  • Washington ($3.053)
  • New York ($2.988)
  • Connecticut ($2.979)
  • Idaho ($2.963)
  • Oregon ($2.968)
  • Illinois ($2.959)
  • North Dakota ($2.938)

The states with the least expensive gasoline today are:

  • Mississippi ($2.651)
  • South Carolina ($2.656)
  • Missouri ($2.666)
  • Texas ($2.674)
  • Tennessee ($2.685)
  • Alabama ($2.694)
  • New Jersey ($2.703)
  • Louisiana ($2.703)
  • Virginia ($2.711)
  • Georgia ($2.716)
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