Gas prices have crept up close to where they were a year ago, with many peaks and valleys in between, according to an analysis by Runzheimer International, the Rochester, WI-based management consulting firm.
In April 2001, Americans were paying, on average, $1.455 for a gallon of self-serve unleaded regular gasoline and $1.704 for a gallon of self-serve unleaded premium. In April 2002, the price was $1.390 per gallon for self-serve regular and $1.663 for self-serve premium.
In between, there were highs of $1.720 for regular and $1.971 for premium in June 2001, and lows of $1.127 for regular and $1.393 for premium in December 2001, a difference of over 59 cents per gallon for self-serve regular.
“If oil producing nations decrease production of petroleum and/or industrial nations increase demand -- such as during the summer driving season -- prices will rise,” said Runzheimer consultant Jon Krause, from the Dallas/Fort Worth, TX area. “There is so much volatility and uncertainty in the world today that the smooth and steady flow of a predictable amount of petroleum worldwide is nearly impossible. The only sure bet is that fuel prices will fluctuate in the near-term future, just as they have in the recent past.”
U.S. AVERAGE GAS PRICE COMPARISONS
The fuel prices shown above are based on the national average for a gallon of self-serve unleaded regular and self-serve unleaded premium gasoline at name-brand retail service stations nationwide. Prices were gathered during the first five business days of each month.
Originally posted on Fleet Financials