Gas Prices Remain Stable But Show No Sign of Retreat

The good news is gasoline prices seem to have stopped going up. The bad news is, they are still at fairly lofty heights.

The national average price of self-serve regular today is $3.127 a gallon, virtually unchanged from the $3.123 recorded last Friday, according to AAA's Fuel Gauge Survey. The average price of diesel fuel is $3.516 a gallon, up from $3.471 last week.

International concerns

Analysts say uncertainty over events in Egypt have kept oil prices high in recent weeks, so gas prices are reflecting that.

"As the price of crude looked to Egypt for much of its direction last week, gasoline prices focused more fully on fundamental data here at home," said Andrew Delmege, AAA's manager of regulatory affairs. "While an early-week SpendingPulse report showed a third consecutive week of increasing demand in the U.S.

and suggested stronger year-on-year growth in the market, supply data proved to be the market mover on the week."

The latest figures from the U.S. Energy Information Administration show supplies of crude oil and refined gasoline remain plentiful. Crude stockpiles total 345.1 million barrels, more than four percent higher than at this time last year. Supplies of gasoline rose for the sixth straight week, to 240.9 million barrels.

The states with the most expensive gasoline today are:

• Hawaii ($3.753)

• Alaska ($3.599)

• California ($3.426)

• New York ($3.381)

• Connecticut ($3.342)

• Washington ($3.276)

• Illinois ($3.257)

• Oregon ($3.256)

• Vermont ($3.238)

• Maine ($3.213)

 

The states with the least expensive gasoline today are:

• Wyoming ($2.913)

• Missouri ($2.947)

• South Carolina ($2.961)

• Texas ($2.979)

• Tennessee ($2.986)

• Mississippi ($2.988)

• Arkansas ($2.993)

• Colorado ($2.993)

• Oklahoma ($2.995)

• Alabama ($3.012)