Gas Prices Surge Higher In Last Week

The price consumers pay for gasoline at the pump gained more momentum in the last seven days, rising 12 cents a gallon as oil prices moved past the $110 a barrel mark this week.

The average price of self-serve regular gas today is $3.73.9 a gallon, up from $3.619 last Friday, according to AAA's Fuel Gauge Survey. The price is up more than 20 cents a gallon in the last month.

Diesel fuel prices rose another six cents a gallon, with the average price at $4.028, breaking the $4 a gallon mark for the first time since 2008.

Motorists driving less

Analysts say consumers are reacting to the ever-higher prices of gas, with the evidence reflected in the U.S. Energy Information Administration's weekly report.

"Of particular note to analysts was a reported decline in demand for gasoline to 8.866 million barrels per day for the week prior," said Andrew Delmege, AAA's manager of regulatory affairs. "This marked a decline of some 6,000 bpd in the four-week average versus the same period in 2010. While this number hints at demand destruction from high prices, it is not conclusive, and sets up increased scrutiny of April gasoline demand numbers."

The government's report also showed the U.S. continues to grow its stockpiles of crude oil, but that supplies of gasoline are falling, mainly because refineries are switching over to summer-grade gas specifications. Still, supplies remain near all-time highs. However, the huge supply is having no effect on price.

The states with the most expensive gasoline today are:

• Hawaii ($4.338)
• California ($4.125)
• Alaska ($4.114)
• Illinois ($3.951)
• Connecticut ($3.910)
• Washington, DC ($3.904)
• New York ($3.901)
• Washington ($3.856)
• Oregon ($3.806)
• Maine ($3.747)

The states with the least expensive gasoline today are:

• Wyoming ($3.472)
• New Jersey ($3.548)
• Colorado ($3.549
• South Carolina ($3.553)
• Tennessee ($3.578)
• Mississippi ($3.582)
• Missouri ($3.602)
• Arkansas ($3.602)
• Oklahoma ($3.608)
• Alabama ($3.615)