National Average Gas Price Back Above $3
July 10th, 2007 | by Brian Carr |Hopefully you enjoyed the sub $3 gas while it lasted (if it ever even made it to your area), because according to GasBuddy.com, the national average price for a gallon of regular unleaded gasoline has jumped back above $3 per gallon for the first time since June 17.
Currently there are 25 states reporting average gas prices below $3 per gallon, with South Carolina reporting the lowest price at $2.77 per gallon. Currently, Hawaii is reporting the highest state-wide average price at $3.48 per gallon.
After a slow yet steady decline after hitting a record high of $3.24 on May 22, it appears that the price of gasoline may be set to rise, just in time for the bulk of the summer’s travel season.
According to an article written by the Associated Press and published on MSN.com, the decline in gas prices was bound to stop some time soon, due in large part to the fact that oil and gasoline futures prices have been steadily increasing over the past couple of weeks.
The article also goes on to state that in addition to the higher crude prices, gasoline prices might shoot up again due to refinery problems:
“Analyst have worried for months that the refining industry isn’t producing enough gas to meet demand. Those concerns have been exacerbated by an unusually high number of refinery outages this year.”
Obviously, this doesn’t come as very good news, especially considering that problems at various refineries throughout the United States caused the nearly 45% jump in gasoline prices from the beginning of February to the end of May.
I guess it appears that our month long respite from rising gasoline prices has finally come to an end.
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8 Responses to “National Average Gas Price Back Above $3”
By Rob on Jul 10, 2007 | Reply
Now THERE’S a surprise
By Vejadu on Jul 11, 2007 | Reply
The price in Lincoln, NE has jumped about 40¢ this week, to $3.39 for regular. I’m glad I filled up last week.
By Brian Carr on Jul 11, 2007 | Reply
Vejadu - I think that’s got a lot to do with the refinery problems in Kansas.
By Vejadu on Jul 12, 2007 | Reply
Yes, due to the refinery problems in Kansas, the price in the midwest is expected to peak around $3.50 within the next 10 days. I would expect even higher, as it’s already at $3.40.
By Rob on Jul 14, 2007 | Reply
So… perhaps you should change the name of your blog to “Weekly Fuel Economy Tip.”
By Gas Price Relief on May 12, 2008 | Reply
Over in the south we are paying $4.25 for regular unleaded. The cost of diseal fuel is just another .50 to .75 cents. If gas prices continue to rise which they will, people will have to make changes in their daily routine. No more extra trips to the mall or grocery store. Heck, I even stop going to the gym after work because it’s not on my way back home. I recently read bicycle stores are seeing and influx of sales along with scooters, and car-pooling. Lifestyles are changing because of this. I wonder how far it will go.