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Consumer Affairs

Gas Prices Creep Still Higher

No let up in demand for fuel


photoThe price consumers pay for gasoline at the pump rose another two cents a gallon in the last week, as oil prices remain north of the $100 a barrel mark.

The average price of self-serve regular gas today is $3.561 a gallon, up from $3.540 seven days ago, according to AAA's Fuel Gauge Survey.

Diesel fuel prices also rose another two cents a gallon, with the average price at $3.946 a gallon today, up from $3.929 seven days ago.

Uncertainty

The market has yet to recover from the uncertainty caused by Japan's massive earthquake and tsunami, along with the still unfolding political turmoil in North Africa and the Middle East.

Little relief appears to be in sight, at least in the short term. The U.S. Energy Information Administration reported this week that U.S. supplies of gasoline fell by 5.3 million barrels, a faster than expected draw-down - meaning despite the high prices, motorists are still buying a lot of gasoline. Analysts also say prices are likely to remain volatile.

"With rapidly changing situations in Japan as well as Northern Africa and the Middle East, it is reasonable to expect the market to continue to shift on daily developments in both regions," said Andrew Delmege, AAA's manager of regulatory affairs.

In the meantime, Alaska joined Hawaii this week as the two states where the average gas price has risen above $4 a gallon.

The states with the most expensive gasoline today are:

  • Hawaii ($4.185)
  • Alaska ($4.036)
  • California ($3.993)
  • New York ($3.755)
  • Connecticut ($3.745)
  • Washington ($3.736)
  • Oregon ($3.718)
  • Illinois ($3.687)
  • Vermont ($3.598)
  • Maine ($3.583)

The states with the least expensive gasoline today are:

  • Wyoming ($3.359)
  • New Jersey ($3.383)
  • Missouri ($3.400)
  • Oklahoma ($3.401)
  • South Carolina ($3.404)
  • Colorado ($3.406)
  • Tennessee ($3.413)
  • Texas ($3.445)
  • Alabama ($3.448)
  • Mississippi ($3.451)

 

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