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Fuel Prices Rise For Summer On Perfect Storm Of Factors

Posted on May 16, 2018
The nation’s top 10 most expensive markets are: California ($3.69), Hawaii ($3.67), Washington ($3.38), Alaska ($3.31), Nevada ($3.30), Oregon ($3.28), Utah ($3.15), Idaho ($3.14), Connecticut ($3.04) and Pennsylvania ($3.04). (AAA graphic)

The nation’s top 10 most expensive markets are: California ($3.69), Hawaii ($3.67), Washington ($3.38), Alaska ($3.31), Nevada ($3.30), Oregon ($3.28), Utah ($3.15), Idaho ($3.14), Connecticut ($3.04) and Pennsylvania ($3.04). (AAA graphic)

At $2.87, the national gas price average jumped six cents on the week in part due to the White House’s decision to re-impose sanctions on Iran, the AAA reported on May 14. As a result, 36 states are seeing gas prices that are a nickel or more expensive than last Monday.

“The Administration’s move combined with the switchover to summer blend, growing global demand and shrinking supply continues to fuel pump prices as we approach the summer driving season,” said Jeanette Casselano, AAA spokesperson. “AAA predicts that the national average may reach $3/gallon this summer, especially if crude oil prices continue to increase.”

Motorists are seeing 19% of gas stations selling gas for $3.01 or more. Today’s gas price is 16 cents more expensive than one month ago and 53 cents more than one year ago.

AAA press release here

Related Topics: fleet management, fuel costs, fuel management, gas prices

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