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Consumer Affairs

Gas Prices Rise Another Nickel In Last Week

Political unrest in the Middle East continues to push gas prices higher.


photoThere seems to be no end in sight for the rise in gasoline prices. The political violence in the Middle East has created uncertainty in the oil market that has resulted in prices well over $100 a barrel, pulling gasoline prices higher as well.

The national average price of self-serve regular gas today is $3.522 a gallon, up five cents in the last seven days, according to AAA's Fuel Gauge Survey. It's 25 cents a gallon higher than two weeks ago.

Diesel fuel prices are rising even faster, up about dime in the last week to $3.917 a gallon.

Today may actually be a critical day for the future of energy prices. Protestors in Saudi Arabia are staging a so-called "Day of Rage." How that turns out could send oil prices tumbling for rising even faster.

Industry analysts point out that the price run-up is not being caused by any tightening of supplies. In fact, there's plenty of oil in the pipeline.

"While events to date have produced little actual disruption to supply, we have nonetheless seen a more than $20 per barrel increase in crude prices since mid-February," said Andrew Delmege, AAA's manager of regulatory affairs. "Both domestic crude and gasoline stocks are high, and demand has not seen an appreciable change during this period."

Nonetheless, gasoline prices in some parts of the country are racing toward $4 a gallon.

The states with the most expensive gasoline today are:

  • Hawaii ($3.970)
  • Alaska ($3.892)
  • California ($3.937)
  • New York ($3.745)
  • Connecticut ($3.741)
  • Illinois ($3.636)
  • Washington ($3.633)
  • Maine ($3.591)
  • Oregon ($3.588)
  • Vermont ($3.492)

The states with the least expensive gasoline today are:

  • Wyoming ($3.242)
  • Colorado ($3.358)
  • Missouri ($3.367)
  • New Jersey ($3.388)
  • South Carolina ($3.413)
  • Oklahoma ($3.418)
  • Tennessee ($3.418)
  • Texas ($3.428)
  • Alabama ($3.442)
  • Mississippi ($3.445)

 

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