AAA Fuel Gauge Report: Gas Prices End 61-Day Streak of Declines
WASHINGTON, D.C. – After 61 consecutive days of declines, the national average price for a gallon of regular gasoline has risen to $3.52. This is two cents more expensive than a week ago, but still nine cents less than one month ago and 26 cents less than a year ago, according to the AAA Fuel Gauge Report. It is also 27 cents below the peak 2013 price to date of $3.79 posted on Feb. 27.
While drivers in most states are paying more for gas today than they did one week ago, only six states have a higher current average pump price than they did one month ago: Illinois (15 cents higher), Indiana (12 cents higher), Ohio (10 cents higher), Wisconsin (8 cents higher), Michigan (7 cents higher) and Minnesota (2 cents higher). These are the same Great Lakes region states whose price increases were triggered by the transition to summer-blend gasoline and heavy rains that caused supply concerns.
The recent fuel price increases are being driven by higher global crude oil prices, which themselves have been broadly supported by signs of economic recovery, according to AAA. Additionally, concerns about possible supply disruptions in the Middle East have added to upward pressure on prices.