AAA Fuel Gauge Report: Gas Prices Trending Higher

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AAA Fuel Gauge Report: Gas Prices Trending Higher


WASHINGTON, D.C. –- The steady decline in fuel prices has officially reversed, with the past week seeing the largest increase since February, according to the AAA Fuel Gauge Report.

The national average price for a gallon of regular unleaded gasoline is now $3.58. This is 6 cents more expensive than one week ago and 4 cents more than one month ago, and the national average has now registered a month-over-month increase for three straight days.

The national average has been less than it was on the same date in 2012 for 72 straight days, but the year-over-year discount has dropped to 15 cents per gallon, down from a peak difference of 39 cents per gallon on April 18. At this time last year, gas prices were falling consistently and eventually declined for 82 of 87 days for a total of 61 cents from April 6 to July 2, according to AAA. This year, the national average has increased for eight straight days to its highest price in more than a month.

The national average is currently 21 cents less than the peak 2013 price to date of $3.79 per regular gallon posted on Feb. 27.

Almost all states have seen pump prices rise, with only West Virginia and Ohio seeing lower prices than one week ago. Six states have seen average prices rise more than 20 cents: Oregon, Minnesota, Washington, Oklahoma, Nebraska and Iowa. Thirteen states have seen average prices increase by more than 10 cents.

Higher crude oil prices have contributed to upward pressure on retail gasoline prices, while tight supplies and both planned and unplanned refinery maintenance in the mid-continent and West Coast have driven prices substantially higher in those regions, AAA reported.