Gasoline Prices Inch Higher to $2.37
Photo by Vince Taroc.
The national average price of a gallon of regular unleaded increased 1 cent to $2.37 for the week ending May 30, which is 2 cents more than a month ago and 5 cents more than a year ago, according to AAA.
Rising demand for gasoline has caused inventories to fall. Demand increased 252,000 barrels per day to 9.7 barrels per day to reach the highest level so far this year, according to the U.S. Energy Information Administration. Gasoline inventories also fell by 800,000 barrels per day.
Consumers could see a national average price return to April levels, when it reached $2.42, according to AAA.
The nation’s markets with the biggest changes in the last week include Ohio (down 7 cents), Utah (up 6 cents), Indiana (down 6 cents), Delaware (up 6 cents), Michigan (down 6 cents), Missouri (up 5 cents), Kansas (up 4 cents), Iowa (up 4 cents), Maryland (up 4 cents) and Colorado (up 4 cents).
The most expensive gas is sold in California ($3.10), Hawaii ($3.07), Alaska ($2.90), Washington ($2.87), Nevada ($2.74), Oregon ($2.73), Idaho ($2.59), Pennsylvania ($2.58), Washington, D.C. ($2.55) and Connecticut ($2.51).
Meanwhile, the average price of a gallon of diesel increased 3.2 cents to $2.571. Diesel is now 18.9 cents higher than a year ago.