Fleet Management News

Gas prices have increased every day this week, even though the price of oil has been dropping. The current average for a gallon of regular unleaded gas in the US is $3.98, according to the AAA Fuel Gauge Report.

Wisconsin’s average price for a gallon of regular unleaded gasoline reached a new all-time high of $4.115 today, surpassing the previous record of $4.111 set on July 17, 2008. In Michigan, a gallon of regular gas climbed to $4.26, which tops the states record high price of $4.21, set in July 2008.

In West Virginia, gas prises rose 5 cents to $4.155 per gallon, surpassing the previous all-time high of $4.12 a gallon reached in July 2008. In Indiana, the average price of a gallon of regular gas hit a record high price of $4.25. The previous record high was $4.17 a gallon, set in September 2008.

The New York Mercantile Exchange reported that oil futures settled at $99.80, down $9.44 or 8.6 percent for the day. This is the first time since March 16 that oil prices closed below $100.

Gas prices have risen for the past 42 consecutive business days and have increased 33 cents in the past month, closing in on the record 54 day streak of consecutive increases set from April 28-June 21, 2009 when the price climbed from $2.05 to $2.69 per gallon — an increase of 64 cents. A gallon of regular gas is averaging $3.97 a gallon in the US. This is an increase of 10 cents from one week ago, and $1.07 increase from one year ago.

In the last week, seven states have seen their average price rise to $4 or more for a gallon of regular gasoline, bringing the total to 13 states plus the District of Columbia at or above the $4 mark: Hawaii, California, Connecticut, Illinois, Alaska, New York, Michigan, Indiana, Ohio, Wisconsin, Rhode Island, West Virginia, Washington state and Washington, D.C. Several analysts are predicting that the majority of states will see $4 a gallon gas by the end of the week.

as prices have been rising and there seems to be no end in sight. For many cities across America, current prices are record high for this time of year. Gas prices are over $4 a gallon in 12 states plus the District of Columbia. Most analysts predict $4 will become the norm nationwide by the end of this week.

Gas prices have been on a steady incline since the beginning of February. 2011. With oil prices at their highest levels since 2008, gas prices are expected to continue climbing higher this summer, according to the U.S. Energy Information Association.

The average price for a gallon of regular unleaded gas in the US is currently $3.94. Current prices are 17 cents less than the highest ever recorded price, $4.11, set in July 2008. One month ago gas prices were averaging $3.61. One year ago US gas prices were averaging $2.88.

The average price for diesel fuel in the US is $4.15 per gallon.

Oil prices are hovering above $112 this week. Oil prices are currently up 15 cents at $112.36 a barrel on the New York Mercantile Exchange, as of Wednesday April 27, 2011. Oil prices increased after a U.S. Energy Department report showed that the gas stockpiles are at the lowest level since August 2009.

Gas inventories have dropped about 14% in the past nine weeks. With the peak summer driving season coming over the next 90 days, concerns about reduced gas supplies are increasing. Gasoline prices typically fall in the winter and rise in the spring as refiners switch to more expensive summer blends of gasoline and the demand for travel increases. Federal and local laws require different additives in summer to preserve air quality, but more expensive additives tend to drive up the price.

Violence and uncertainty in the Middle East and Africa is continuing to restrict the world’s oil supply, further driving oil and gas prices higher. With gasoline supplies falling and retail prices increasing, refiners can pay more for oil, and drivers can expect to pay more at the pump.

The average price for a gallon of regular gas in the US has increased for 35 days straight. Gas prices have increased over 32 cents per gallon since March 22, 2011. The current average price for a gallon of self-serve regular gasoline is $3.86, according to AAA. This is up over 3 cents from a week ago, 29 cents from30 days ago and $1.01 from one year ago.

Drivers in most states will likely continue to see gas prices continue to increase over the next few months for several reasons.

Oil is holding its high price at over $112 a barrel. Yesterday three Texas oil refineries lost power, which will drive prices even higher. Oil analyst Tom Kloza says the shutdowns may have cut off 300,000 barrels of daily production.

Gas companies are currently in the process of changing from winter-blend to summer-blend gasoline, which is more expensive.

Gas prices increased for the 34th consecutive day. The national average for a gallon of unleaded regular gas is $3.86, according to the AAA Fuel Gauge Report. Gas prices are more than $1-a-gallon higher than a year earlier and less than 25 cents away from the record high price of gasoline set in July 2008. (The record price set in 2008 is $4.11.)

California gas prices are astronomically high, especially when compared to other states in the US.  While Chicago currently has the… Read more »