Gasoline Jumps to $2.56 Per Gallon
Photo by Vince Taroc.
The national average price for unleaded gasoline increased 9 cents to $2.56 per gallon for the week ending Nov. 13, according to AAA.
Even though gasoline prices are now 39 cents higher than a year ago due to stronger than expected demand, prices are expected to fall later in the month. Total gasoline inventories fell by 3.3 million barrels, the U.S. Energy Information Administration has reported.
"While November gas prices have come in like a lion, AAA expects them to go out like a lamb," said Jeanette Casselano, AAA spokesperson.
Gasoline prices in most states increased during the week. The sharpest increases came in Florida (13 cents) and Alaska (12 cents). The steepest declines came in Indiana (13 cents) and Ohio (10 cents).
States with the least expensive gasoline prices include Alabama ($2.26), Mississippi ($2.27), South Carolina ($2.29), Louisiana ($2.30), Arkansas ($2.31), Texas ($2.31), Virginia ($2.32), Tennessee ($2.34), Oklahoma ($2.35), and Missouri ($2.36).
Meanwhile, the average price of a gallon of diesel increased 3.3 cents to $2.915, which was 47.2 cents higher than a year ago, according to EIA data.