Still Asking 'Why Are Gas Prices So Low?'
CARS.COM — The national average for regular gas jumped 7 cents the past week — the biggest weekly price increase this calendar year — as analysts warned motorists to brace for further increases at the pump.
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“The party is over, for now,” GasBuddy.com analyst Patrick DeHaan said in a blog post. “Motorists should expect to see a more sustained upward trend at the pump through Memorial Day, but thankfully the seasonal rise could still be less severe than what we’ve seen in prior years.”
GasBuddy said the national average for regular was $2.38 Thursday, while the AAA Daily Fuel Gauge Report said it was a penny lower. AAA, though, agreed that prices will continue to rise because of scheduled and emergency refinery maintenance, and a switch to more expensive summer gasoline blends in many parts of the country.
Here’s what’s going on with gas prices across the country:
- The biggest increases were in Florida, where the average for regular jumped 11 cents; Michigan, 15 cents; and Kentucky, 16 cents.
- The average price of regular has spiked by 26 cents over the past two weeks in Michigan to $2.58. Average prices for regular rose by a nickel or more in a majority of states.
- South Carolina had the lowest average for regular, $2.09, followed by Alabama at $2.11 and Mississippi and Tennessee at $2.12.
- Hawaii had the highest average at $3.06, followed by California at $2.98 and Washington at $2.89.
- Premium gas rose 4 cents the past week to $2.87, and diesel fuel rose by a penny to $2.51, according to AAA.
