Gasoline Prices Inch Higher
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The national average price of a gallon of unleaded gasoline increased slightly to $2.28 for the week ending Feb. 13 to reach a level that's seven cents lower than a month ago and 58 cents higher than a year ago.
Gasoline prices have remained relatively steady over the past month as a result of a well-supplied crude oil market, according to AAA. Member of the Organization of the Exporting Petroleum Countries (OPEC) have implemented 90% of the production cuts they agreed on Jan. 1 to implement. U.S. drilling and production has increased in since that time.
The nation's top five most expensive markets are: Hawaii ($3.11), California ($2.87), Washington ($2.73), Alaska ($2.73) and Pennsylvania ($2.53).
Averages are down in many states, with the largest monthly savings experienced by Delaware (18 cents), Ohio (17 cents), West Virginia (16 cents), Illinois (15 cents), and Wisconsin (13 cents).
The price of unleaded as tracked by the U.S. Energy Information Administration increased 1.4 cents to $2.307, which is 58.3 cents higher than a year ago.
Meanwhile, the average price of a gallon of diesel increased sevent-tenths of a cent to $2.565, which is 58.5 cents higher than a year ago.