Gasoline Inches Higher to $2.25 Per Gallon

The national average gasoline price increased 1 cent to $2.25, and recorded the first weekly price increase since early October, when it sat at $2.91 per gallon, according to AAA.

Even with the increase, the national average is 14 cents cheaper than a month ago and 28 cents cheaper than a year ago. The slight move higher followed a week that saw more expensive crude oil that was somewhat offset by higher gasoline stocks and a small increase in demand.

"The price of crude oil has been slowly, but steadily increasing since the beginning of the year, which is starting to push up pump prices," said Jeanette Casselano, AAA spokesperson. "The price per barrel increased $3 from last Monday to close on Friday to settle at $51 per barrel."

States with the largest monthly decreases included Montana (33 cents), Idaho (32 cents), Colorado (32 cents), Wyoming (31 cents), Utah (29 cents), Hawaii (27 cents), South Dakota (24 cents), North Dakota (22 cents), New Mexico (21 cents), and Minnesota (20 cents).

States with the largest yearly decreases include Michigan (57 cents), Illinois (53 cents), Iowa (49 cents), Indiana (48 cents), Wisconsin (45 cents), Nebraska (45 cents), Ohio (44 cents), Kentucky (43 cents), Minnesota (41 cents), and Kansas (40 cents).

Meanwhile, the average price of diesel fell 3.7 cents to $2.976, which is 5.2 cents lower than a year ago, according to the U.S. Energy Information Administration.