Gas prices in all 50 states this week are back above $3 per gallon for the first time since December 15, when regular unleaded gasoline remained at this level for nearly 10 months.
According to the latest data from AAA’s Daily Fuel Gauge Report, the national retail average price for a gallon of self-serve regular gasoline in the U.S. stands at $3.48, nearly 12 percent more than a year ago.
At the same rate, crude oil prices are nearly unchanged from their levels back in January 2011, up 0.2 percent.
So what is driving up gas prices? The AAA highlights that although reports show “extremely weak gasoline demand,” refiners are responding by cutting back on production, which essentially affects prices at the pump.
Below is a breakdown of the states with the highest and lowest gas prices:
Most Expensive States
- $4.18 - Hawaii
- $3.87 - Alaska
- $3.79 - New York
- $3.78 - Connecticut (tied)
- $3.78 - California (tied)
Least Expensive States
- $3.01 - Wyoming
- $3.06 - Colorado (tied)
- $3.06 - Montana (tied)
- $3.09 - Utah
- $3.11 - Idaho
Source: AAA Daily Fuel Gauge Report. Prices displayed above are a statewide average for self-serve regular unleaded as of Feb. 8, 2012.
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