Posted on 03/26/2019 10:12:45 AM PDT by Red Badger
Gasoline prices in the United States rose in the week ended Monday to a national average of $2.62 per gallon, with some drivers paying the most, in five years for this time of the year.
National averages rose a quarter from the previous month, and 2 cents from last year, the AAA motor club said in its weekly report.
"On the week, every state except Florida (no change) saw gas prices increase, some as much as 16 cents, with the Great Lakes and Central region seeing the most states with double-digit jumps on the week," the report said. The biggest increases were in Missouri, where fuel averages gained 15 cents.
GasBuddy, which tracks prices separately, also estimated prices rose to $2.62 per gallon. Prices have risen for the sixth straight week and seven states saw a "double-digit lift."
The AAA said that in the Great Lakes and Central States region -- including Missouri, Indiana, Michigan, Ohio, Illinois and Kansas -- saw weekly increases bigger than a dime. Illinois, at $2.74 per gallon, had the highest price.
The Great Lakes and Central States region saw the second-largest decrease in gasoline stocks this week with a draw of 1 million barrels.
In the Rockies, Utah, with $2.34 per gallon, has the cheapest fuel prices in the country. The region has seen significantly cheaper gas prices likely due to strong inventory levels and lower demand, AAA said. Year over year, gas prices are as much as a quarter cheaper in the region.
In the Mid-Atlantic and Northeast states, prices were relatively stable in the week with variations that ranged from a 9 cent-per-gallon increase in Tennessee to a 1 cent-per-gallon gain in West Virginia.
In the South, all states except Florida saw price increases, led by New Mexico with a 12 cents-per-gallon rise. Even after the increase, prices in the region remain among the lowest in the country.
"The consistent decrease since February, which is partly attributed to exports, has caused gas prices to increase throughout the region," the AAA said.
As usual, the West Coast's pump prices remained among the highest in the nation, in part due to stricter emission controls.
California and Hawaii are the most expensive markets, with prices at $3.49 per barrel and $3.40 per barrel, respectively. Drivers in California and Arizona saw a 14 percent increase.
Fuel sold in service stations across most of the United States is a combination of blendstock, like Reformulate Gasoline Blendstock for Oxygenate Blending, later mixed with oxygenate, which adds oxygen to the emission to make it cleaner.
These blendstock products are all naphtha obtained from crude oil. The naphtha is in most cases later mixed with about 10 percent ethanol.
RBOB futures for April delivery were quoted Tuesday morning at $1.89 per gallon, about the same as a week earlier.
Ethanol, alcohol that, in the United States, is mostly derived from corn and added to the gasoline mix as an oxygenate, was quoted Tuesday at $1.42 per gallon for April delivery, up from $1.43 a week ago.
This is the season in which refiners change to a warmer weather, and more expensive, fuel mix. Seasonal prices in the United States begin to increase in February and continue until the end of May.
I'm in Florida and our prices are nearly 30 cents higher than before.................
Gone up .30+ cents in Reno in the past couple of weeks. Refinery fire in Houston? Except I’m pretty sure we get our stuff from the bay area here. And I-80’s been kept open most of the time this winter. $3.05/gal seen yesterday.
There were no stories at all about gas prices a month or so ago when it was 1.99 here in Minneapolis.
We don’t have a ‘oil shortage’, we have a REFINERY SHORTAGE.
The EPA WILL NOT ALLOW ANY NEW REFINERIES TO BE BUILT.................
Good news is not newsworthy..................
That is true. Can’t recall the last time a new one came on line. Refiners keep mod’ing the ones on line.
I just filled the tank here in Tennessee this morning, at $2.47/gallon. About a dime more than it was a week ago.
Many oil exporting nations have allowed their inventories to drop so that prices would start to rise since so many of them had allowed their inventories to rise to artificial highs to allow prices to fall for political reasons globally. Anyway this is what I read about 3 or 4 weeks back.
And when an old one has a fire, then the prices go up immediately...................
They were blaming weather for shutting refineries in the north down as well...............
I can’t really bitch at the oil companies when the Commonwealth of Pennsylvania is helping itself to 50 cents per gallon for doing absolutely nothing.
We do have a shortage of refining capacity but also, there was the fire in the Houston Ship Channel and the refiners are going to be switching to the summer blend of gasoline required by the EPA. Another factor is the amount of tax that is on each gallon of fuel. Most pumps show the amount of tax you are paying for your gas or diesel. The difference in the price of gasoline between NY state and NJ is huge.
Article says “as much as 16 cents”
Here in Phoenix, I got gas 11 days ago for 2.29 and yesterday was 2.69... that is from same station thst is usually a dime cheaper than eberybody, 40 cents in 10 days... I saw it as high as 2.87 driving around that same day.
I have been thinking about the rise in gas prices. They seem to coincide with Trumps decision to use E15 Gas.
Very Bad for America.
Changed at least 10¢ overnight here in places in Nebr. just in our town. I don’t know what it did elsewhere in the state. To think they want to push more & more ethanol that will only decrease your mileage. Add to that the fact that anything over 10% ethanol is not suggested by the manufacturer to even be used in many vehicles. I’m pretty sure ethanol is still subsidized, but they only mention how using it keeps the price down. They say they need need the tax money from it(which is a LOT of the overall price)for the roads....which in some places right now are full of potholes.
The Corn Lobby is powerful in DC..................
Here in OK they’re blaming the conversion to summer fuel formula. I don’t know what to believe, other than somebody is making money off crisis.
It’s a combo of several things.
Yes, the seasonal switchover to the summer fuel mix, plus the fire in Houston at that plant that made chemicals for that among other things.
Floods and snowstorms added their punch and the Saudis cutting back on production causes the world prices to rise..................
Yet, according to FR (which, btw, is the only news source I consult any more), we’re exporting more oil than ever. Maybe it would be in our own best interests to a) keep the oil here and forget about the rest of the world, b) build some refineries and c) get rid of the EPA since they’re the ones saying we need the summer fuel mix in the first place.
Much to do about almost nothing
Fuel prices vary.
The fact they are somewhat higher than when they were some what lower is actually meaningless. Had you banked the savings when they were low, you could use those savings to offset the somewhat higher price.
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