It looks like last week’s slight drop in the average national gas price (it dropped by a whopping one cent) was the exception to the rule, as gas prices have resumed their upward trend and are now just short of $3 per gallon.
As of Sunday evening, the national average gas price had risen to $2.97 per gallon, nearly 11 cents higher than at the same point last week. Additionally, gas prices are roughly seven cents higher than at the same point during 2006.
There are now eight states, plus the District of Columbia, that are reporting average gas prices above $3 per gallon. The state with the lowest average gas price is New Jersey at $2.75 per gallon, and the state with the highest average gas price is California at $3.35 per gallon.
It’s pretty amazing that roughly the same product can vary as much as 60 cents between states, but we’ll go ahead and save that for another post.
Unfortunately, earlier predictions that would could expect to pay less at the pump this summer are proving to be completely wrong. And at this pace, we’re going to completely shatter the record high gas prices set shortly after Katrina made landfall in September 2005.
Either way, I hope you don’t have to travel far or often this summer because it’s going to cost you an arm and a leg!
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US Gas price is still cheap compared to other countires. They should be $4USD a gallon than maybe people would driving big SUV’s.