National Average Gas Prices Continue to Rise Heading into February

The average national price for gasoline is at $2.42, while still cheaper year-over-year, the national average is now 17 cents more expensive than last month, AAA said.

The average continued to climb this past week despite a drop in gasoline demand and refinery utilization. The gas price average has been cheaper year-over-year for 336 days, however, AAA said it predicts that trend will end as early as this week.

Typically, a decrease in demand and increase in supply drive a decrease at the pump, but sustained crude oil prices are pushing the increase, according to AAA.

“For nearly a year, motorists have been saving 53 cents a gallon, on average, when filling up their gas tanks. That extra pocket change is quickly going to dwindle thanks to rising crude oil prices that have made for more expensive pump prices,” said Jeanette Casselano McGee, AAA spokesperson.

Ten states are already carrying more expensive gas prices compared to a year ago, including: Delaware (up 23 cents), Maryland (up 9 cents), Iowa (up 6 cents) and Indiana (up 6 cents). Conversely, nearly 12 states still have gas price averages that are as much as 38 cents a gallon less than this time last year.

The nation’s top 10 largest weekly increases include: Michigan (up 12 cents), Indiana (up 10 cents), North Carolina (up 8 cents), Idaho (up 5 cents), Illinois (up 5 cents), Oklahoma (up 4 cents), California (up 4 cents), Nevada (up 4 cents), Tennessee (up 4 cents) and Vermont (up 3 cents).

The nation’s top 10 most expensive markets are California ($3.41), Hawaii ($3.32), Washington ($2.83), Nevada ($2.77), Pennsylvania ($2.70), Oregon ($2.69), Washington, D.C. ($2.59), Alaska ($2.59), Illinois ($2.59) and New Jersey ($2.56).

Originally posted on Automotive Fleet