Gas Prices Still Creeping Higher

Well, it was nice while it lasted. After gasoline prices peaked in early May, they steadily fell over the next six weeks. But now they're climbing higher.

The national average price of self-service regular has been rising since early July, and today is $3.695 a gallon, up from $3.667 last Friday, according to AAA's Fuel Gauge Survey.

The average diesel fuel price is also up slightly, to $3.955 a gallon, compared to $3.937 last Friday.

Prices are rising at the retail level along with oil and gasoline prices in the futures markets. Oil prices are back around $100 a barrel, even though many analysts just four weeks ago said the price should be between $80 and $90, based on market fundamentals.

Meanwhile, U.S. stockpiles of crude oil were drawn down for another week. Though still plentiful, the drop in supply gives the impression that consumers are using more energy and supplies are tightening. In a pleasant surprise, stockpiles of gasoline actually rose last week.

Consumer, in fact, are using less fuel. The U.S. Energy Information Administration reports Demand for gasoline over the four weeks ended July 15 was 2.2 percent less than the same period in 2010.

Looking at geographic trends, the mountain west has replaced the southeast as the land of the lowest gasoline prices. In the last two weeks Arizona, Colorado, Wyoming, Utah, New Mexico and Nevada have all moved into the Top 10 states with the cheapest gas prices.

The states with the most expensive gasoline today are:

• Hawaii ($4.067)
• Alaska ($4.029)
• Connecticut ($4.031)
• New York ($3.938)
• Washington, DC ($3.889)
• Illinois ($3.887)
• Rhode Island ($3.846)
• California ($3.810)
• Washington ($3.804)
• Maine ($3.800)

 The states with the least expensive gasoline today are:

• Arizona ($3.376)
• Utah ($3.484)
• South Carolina ($3.506)
• Colorado ($3.513)
• Wyoming ($3.526)
• Nevada ($3.551)
• Mississippi ($3.554)
• Missouri ($3.562)
• New Mexico ($3.564)
• Tennessee ($3.574)