It's going up! Residents in some states are paying nearly a dollar more per gallon than they were a month ago.
Across the United States, gas prices are higher now than just four weeks ago. But some states have experienced dramatic price increases. Residents of California are paying nearly a dollar more per gallon than last month.
“While the nationwide average price of $2.45 per gallon is far lower than levels one year ago, it has risen steadily for over a month, the longest string of consecutive daily increases in more than two years,” 24/7 Wall St. reports.
AAA spokesman Avery Ash told 24/7 Wall St. that seasonal maintenance and production shifts cause gas prices to increase every year around this time. But the amount of the price surge varies. 24/7 Wall St. said:
Last year, prices increased in the spring [because of] refinery issues in the Midwest. This year, the bulk of the increases have been on the West Coast, especially in California. According to Ash, high regional gas prices this year can be attributed to increasing crude oil costs, routine refinery maintenance, and unexpected production issues.
24/7 Wall St. said these 10 states currently have the highest gas prices in the country:
- California. $3.43 per gallon for regular unleaded.
- Hawaii. $3.13.
- Alaska. $2.90.
- Oregon. $2.88.
- Nevada. $2.88.
- Washington. $2.84.
- New York. $2.63.
- Pennsylvania. $2.62.
- Connecticut. $2.55.
- Vermont. $2.54.
Typically, northeastern states pay higher transportation costs for fuel because most refineries are in the Midwest or the Gulf Coast area. 24/7 Wall St. added:
In addition to a state’s location and the associated transportation costs, state gasoline taxes also have an impact on gas prices. With the exception of Alaska, drivers in all of the 10 states with the highest gas prices paid much higher total gasoline state taxes and fees than the average national gas tax rate of 29.89 cents per gallon. In addition, all drivers pay a federal excise of 18.4 cents per gallon.
On average, however, American households should save about $750 this year thanks to lower gas prices and higher fuel standards. Here are ‘5 Things to Do With Your $750 (Gas Savings) Bonus.’
I paid about $2.20 per gallon to fill my tank earlier this week. What is the cost of regular gasoline in your area? Share your comments below or on our Facebook page.