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Rising Summer Temperatures Means Rising Gas Prices

Despite the rise, prices significantly lower than last year.

by on Jun.02, 2016

With the summer driving season now in full swing, demand levels are rising as are prices.

With the Memorial Day in the rear-view mirror, the summer driving season has begun in earnest and demand for gasoline remains very strong, according to AAA.

AAA, however, also reported that motorists are paying the lowest gas prices for this time of year in more than a decade. Gas prices during the Memorial Day holiday were the cheapest since 2005 and down 42 cents per gallon versus last year’s holiday, according to AAA latest nationwide survey.

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The average price of $2.32 per gallon represents an increase of three cents per gallon on the week, and consumers are paying 11 cents more per gallon than they were a month ago, AAA said, while this year’s summer driving season is expected to be characterized by higher-than-normal gasoline demand. (more…)

Summer Blend Makes Gas Prices Rise

Refineries shifting to special seasonal mix.

by on Apr.05, 2016

Gas prices are on the rise as producers move to the summer blend of fuel.

With the summer driving season fast approaching, the price of gasoline continues to climb, pushing the average price beyond $2 per gallon, according to a new report by AAA.

Despite increasing for 36 of the past 41 days, the national average is at its lowest price point for this same date since 2009, according to AAA.

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“The average price of $2.06 per gallon represents an increase of two cents on the week and 24 cents on the month. Pump prices continue to reflect year-over-year discounts, and drivers are saving 34 cents per gallon versus this same date last year,” the organization noted. (more…)

Gas Prices Rise in Time for Memorial Day Holiday

Price at pump up a nickel in last week, 26 cents for the month.

by on May.21, 2015

AAA reports that gas prices have risen a nickel in the last week, just in time for the Memorial Day holiday.

Not surprisingly, with the Memorial Day Holiday – the official start of the summer driving season – fast approaching, gasoline prices continue to increase. They climbed by a nickel a gallon, according to AAA, in the last week.

The national average price for regular unleaded gasoline has increased on 32 of the past 34 days, reaching today’s price of $2.71 per gallon. Consumers are paying 26 cents more per gallon than one month ago.

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Pump prices have moved higher nationwide in recent months, largely due to the global rally in crude prices. The impact of more expensive crude oil on gas prices has been exacerbated by refinery problems. (more…)

Steady Rise in Gas Prices May be Nearing an End

Drivers continue to pay more, but crude prices leveling.

by on May.12, 2015

Gas prices may level off in the near future due to an expected halt to rising crude oil prices.

The price of gasoline increased again this week, rising to $2.66 per gallon, which is the highest average price of the year, according to AAA. But the increases might be coming to an end as the rally that has lifted the price of crude oil runs out of steam.

Drivers are paying about four cents more per gallon than one week ago and 27 cents more per gallon than one month ago. However, relatively low crude costs continue to translate to significant savings at the pump for consumers. The national average is about a dollar less than a year ago and is at the cheapest level for this date since 2009, AAA said.

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Month-over-month, the price has moved higher in every state and Washington, D.C. by a dime or more per gallon. Pump prices are up by a quarter or more in 22 states, with the largest monthly increases taking place in the western United States. Consumers in California at 61 cents per gallon, Nevada at 44 cents per gallon, Utah at 39 cents per gallon and Arizona at 39 cents have seen the largest increases over this period, due largely to the refinery issues in the region. (more…)

Motorists Watch Fuel Costs Steadily Climb Upwards

Rising crude prices, refinery issues behind increases.

by on May.05, 2015

Gas prices have risen consistently for nearly three weeks in a row, according to AAA.

No, it’s not your imagination: prices at the pump have been on the rise for a while now. The average price of gasoline has moved higher for 19 consecutive days, adding some 23 cents per gallon due to higher crude oil costs and a number of refinery issues, according to AAA.

AAA pegged the average price across the country at  $2.62 per gallon, which represents the most expensive average price of the year. Motorists are paying eight cents more per gallon than one week ago and 22 cents more than one month ago to refuel their vehicles.

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Although the national average is currently moving higher, relatively lower crude prices continue to provide consumers with significant year-over-year-savings and today’s price is $1.06 per gallon less than a year ago, AAA said. (more…)

US Gas Prices on the Rise after 123-Day Decline

AAA doesn’t expect prices over $3 gallon this year.

by on Feb.09, 2015

Gas prices are beginning to rise after hitting seven-year lows a few weeks ago.

The average price of gasoline in the U.S. increased during the past week, rising by more than 10 cents per gallon, according to a new survey by AAA.

Gas prices had declined for a record 123 consecutive days to $2.03 per gallon before increasing last week for the first time since Sept. 25.

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“Many drivers are noticing an uptick in gas prices for the first time in months,” said Avery Ash, AAA spokesman. “It is typical to see gas prices increase this time of year due to refinery issues, yet hopefully the consumer impact will be less problematic given how low prices are today.” (more…)

Gas Prices Likely to Remain Volatile

The trendline is only pointing up.

by on Apr.11, 2011

Don't expect fuel prices to level off anytime soon, warns analyst Peter Wells.

Gasoline prices, now pushing upwards towards and beyond $4 per gallon in most of the U.S., will remain volatile for the foreseeable future while trending upwards, predicts Peter Wells, an analyst with Boston Petroleum.

Even if the U.S succeeded in pumping up its supplies of domestic crude oil, Americans will still have to depend on imported oil to fill their demand for transportation fuel, Wells said during a panel discussion at Toyota’s annual seminar on Sustainable Mobility. In addition, prices for petroleum products are set on a global level.

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The recent upheavals in Egypt, Libya, Tunisia, Yemen and Bahrain only underscore the volatility in the Middle East, which is fueled by a whole generation of what Wells described as angry young men and the divide between Shiite and Sunni Muslims, which increasingly contributes to the instability of the region.

(more…)