The Car and Truck Fleet and Leasing Management Magazine

Gasoline Rises to $3.71 Per Gallon

April 29, 2014

Photo courtesy of Wikimedia.
Photo courtesy of Wikimedia.

The national average price of gasoline rose 3 cents to $3.713 per gallon for the week ending April 28, according to federal data.

The continuing price advance since early February — gasoline has climbed higher for 12 consecutive weeks — has pushed gasoline to 19.3 cents above its position a year ago, reports the U.S. Energy Information Administration.

The move has been attributed by some to volatility in the ethanol commodity market. Other experts have attributed the higher prices to increased exports of U.S. petroleum to Brazil, Mexico, and other countries, reports the Wall Street Journal.

During the week, prices rose in eight of the nine regions tracked. It remained flat in the Gulf Coast region. The sharpest increase came in the Central Atlantic region, where gasoline rose 7.4 cents. Gasoline costs at least $3.50 per gallon in 39 of the 50 states, according to AAA's Daily Fuel Gauge Report.

Meanwhile, the price of diesel rose four-tenths of a cent to $3.975 per gallon. Diesel fuel is now 12.4 cents higher than it was a year ago.

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