The Car and Truck Fleet and Leasing Management Magazine

Gasoline Price Reaches Three-Year High

April 16, 2018

Photo of fuel station by Vince Taroc.
Photo of fuel station by Vince Taroc.

The nation's average gasoline price has reached a level not seen since summer of 2015 at $2.71 for a gallon of regular unleaded, according to AAA.

The past week saw a five-cent increase, and drivers in six west coast states are paying more than $3 per gallon, AAA reported on April 16. Only 27% of gasoline stations are selling gasoline for $2.50 or less.

Today's price average has reached 18 cents more than a month ago and 30 cents higher than a year ago.

"Expensive crude oil prices, unrest in the Middle East, strong domestic demand, record production rates and global oil supply surplus have created the perfect storm to drive spring gas prices toward new heights," said Jeanette Casselano, a AAA spokesperson. "Consumers can expect gas prices to increase another 5 to 10 cents this season, but the national average is not expected to reach the $3 mark."

Meanwhile, the average price of a gallon of diesel climbed 6.1 cents to $3.104 per gallon, which is 50.7 cents higher than a year ago.

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