The Shadow
RICHMOND — At $2.74, the national gas price average increased a nickel over the past week and it is 8 cents more than last year at this time.
And compared to one month ago, gas prices are 28 cents more expensive. As demand holds steady and inventories continue to tighten, motorists continue to see gas prices increase in every region.
“Gas prices are increasing across the country, but these changes vary by region,” said Jeanette Casselano, AAA spokeswoman.
“On the week, motorists in the West Coast, Rockies, Great Lakes and Central regions are seeing some of the largest weekly increases while prices mostly east of the Mississippi have made more moderate jumps,” she said.
As overall refinery utilization stands at 86 percent compared to 93 percent last year at this time, unexpected and planned maintenance continues to be one of the leading factors in why gas prices have continued to trend more expensive.
The nation’s 10 largest weekly price increases were in: California ( up 18 cents), Arizona ( up 15 cents), Alaska (up 14 cents), Oregon (up 11 cents), Washington (up 11 cents), Montana (up 10 cents), Nevada (up 9 cents), North Carolina (up 9 cents), West Virginia (up 9 cents) and Ohio (up 9 cents).
The nation’s 10 least expensive markets are: Mississippi ($2.44), Alabama ($2.44), Arkansas ($2.44), Louisiana ($2.45), South Carolina ($2.47), Missouri ($2.47), Texas ($2.48), Utah ($2.49), Virginia ($2.51) and Oklahoma ($2.51).
Oil prices climbed last week following strong U.S. economic data that reduced fears of a drop in global crude demand later this year.
Moreover, escalating military actions in Libya — a major global crude producer and exporter — supported crude price increases amid concerns that crude exports from the country could be affected by the tension.
Oil prices could climb even further this week as OPEC’s production reduction agreement remains in place through June and the U.S. tightens its crude export sanctions against Iran and Venezuela.
