In the LA and Long Beach area, the price is $3.15 per gallon, which is 2.4 cents above last week, $3.8 cents more than last month, and $10.3 cents higher than last year. On the Central Coast, the average price is $3.22, up $3.5 cents from last week, $4.2 cents higher than a month ago, and $11 cents above last year. In the Inland Empire, the average per gallon price is $3.13, which is $2.5 cents higher than last week, $3.4 cents higher than last month, and 11 cents more than last year.
The average retail price of gasoline in the United States is $2.75 a gallon. Drivers in big cities saw a range of prices at the pump — from an average $2.54 in Houston to $3.20 in San Francisco. In Chicago it cost $2.88 a gallon to fill up, while New York City motorists topped off the tank for $2.73 a gallon. Seattle gas stations averaged $3.10 for regular. Denver drivers paid $2.67 a gallon.
The Energy Departments’ Energy Information Administration’s weekly update calculated gas prices at a national average of about $2.75 a gallon as well. Drivers in California paid the most, at $3.17 a gallon. Special blends to meet environmental requirements boost the price there. Drivers, near the Gulf Coast who are near refineries pay the least for a gallon of regular gas – $2.61.
“The latest pump price increases have resulted from higher crude prices, which oil industry analysts say were caused by a weakened dollar and some futures speculation that we could see a supply disruption during hurricane season,” said AAA Automobile Club spokesperson, Jeffrey Spring.“However, crude oil prices have dropped this week in response to bad economic news. It remains to be seen whether gas prices will follow suit.”
With gas prices this high, it makes sense for fleets to invest in a fleet GPS tracking system. Tracking fleet vehicles can significantly reduce fuel expenses. Lower fleet fuel bills equal higher net profits. For a fleet of 25 vehicles, idling time reduced by only 15 minutes per day can result in fuel savings of 562.5 gallons at a cost of about $1,783 per year at current gas prices. If you reduce idling time by 60 minutes, it would result in a fuel savings of 2,250 gallons at a cost of over $6,000 per year!