- February 28th, 2012
- Aurielle Destiche
Gas Prices Up 29 Cents in One Month
Gas prices are up over 11% for the year and have now increased for 32 consecutive days. Today’s retail gas price is 13 cents more expensive than one week ago.
Gas prices are up over 11% for the year and have now increased for 32 consecutive days. Today’s retail gas price is 13 cents more expensive than one week ago.
2012’s Record High Gas Prices
Gas prices have never been higher this time of the year in the U.S.
Monday’s retail price for a gallon of regular gas in the U.S. is $3.56, up 5% in the past week alone, according to the AAA Fuel Gauge Report.
Gas prices are already up over 25 cents since Jan. 1. And the Oil Price Information Service predicts that gasoline prices could reach a record $4.25 a gallon by late April. That would top the record of $4.11 in July 2008.
Gas prices have been steadily been rising over the last several weeks, and experts are predicting that U.S. gas prices will top $4 a gallon by Memorial Day.
The current national retail average price for a gallon of self-serve regular gasoline is $3.48. Today’s price is five cents more expensive than one week ago, 11 cents more expensive than one month ago, and 36 cents more expensive than one year ago, according to the AAA Fuel Gauge Report.
Last month turned out to be the most expensive January ever for U.S. gas prices.
January is typically a month of falling gasoline prices because fuel demand slows down during the slower travel weeks that follow the year-end holidays. But January 2012 has been a much different story.
In January, retail gasoline prices averaged $3.37 a gallon, according to the Oil Price Information Service, a private fuel information service. That compared with the previous record average for the month of $3.095 a gallon, set last year. In 2010, January gasoline prices averaged just $2.71 a gallon – 66 cents less than what gas prices are today.
Oil fell to the lowest price in six weeks due to reports that U.S. crude stockpiles increased more than estimated. Crude for March delivery on the New York Mercantile Exchange fell as much as 95 cents to $96.66 a barrel, the lowest since Dec. 20.
Euro zone debt concerns and dismal demand numbers is placing downward pressure on oil prices. Meanwhile geopolitical tension with Iran and signs of economic recovery in the U.S. is placing upward pressure on prices. The net impact has been the price of crude oil prices remaining steady in recent weeks and finally decreasing this week.
Despite Rising Gas Prices, Dunphy’s ExtermaPest Uses FieldLogix GPS Fleet Tracking System to Cut Gas Costs by $700 a Month For a 10 Vehicle Fleet
Gas prices are typically low in January, but not this year. Currently the U.S. average price for a gallon of self-serve regular gas is $3.44, 17 cents more than one month ago, and 35 cents more than one year ago, according to the AAA Fuel Gauge Report.
Gas prices are rising steadily across the United States, but the worst may be yet to come.
January has been a tough month for drivers, as gas prices have been record-setting high. Gas prices are currently 35 cents higher than they were one year ago. Now analysts are saying there will be no relief at the pump anytime soon due to refinery closures in the US and Europe.
Gas prices are usually low in January, but not this year. Gas prices are record-setting high.
2012 has started on a bad note for drivers, as gas prices rose 10 cents to $3.37 a gallon for regular gasoline, which is 14 cents more expensive than one month ago, and 27 cents more expensive than one year ago, according to the AAA Fuel Gauge Report.
Gasoline prices rose in most of the U.S. during the last week.
Lowest Gas Prices in 10 Months
As crude oil prices dropped last week, the price of gasoline at the pump continued to decline and is now at the lowest point since February 23.
gasoline prices
Record High Gas Spending in 2011, U.S. Consumers Spent $4,155 More On Gas This Year
Even though gas prices have been falling in recent weeks, consumers have spent more money on gasoline in 2011 than any other, according to the Oil Price Information Service (OPIS).
Iran may be playing military games as speculation rises that its military will soon be shutting down the Strait of Hormuz, a shipping channel where one-sixth of the world’s oil supply passes through.
Oil prices rose the most in almost four weeks on speculation supplies will be disrupted after a report that Iran may be planning to close the Strait of Hormuz. Crude advanced as much as 3.6 percent after the state-run Fars news agency reported the military drills at the strait, however Iran’s Foreign Ministry denied the report.
Oil traders remain fearful that Iran could try and block the strategically-sensitive Strait of Hormuz that links the Gulf with the Gulf of Oman and through which much of the region’s oil is transported. Most of the crude exported from Saudi Arabia, Iran, the United Arab Emirates, Kuwait and Iraq – together with nearly all the liquefied natural gas from lead exporter Qatar – must slip through a 4-mile wide shipping channel between Oman and Iran.
March 24, 2011 – Gas prices this week remain high this week. According to the AAA Fuel Gauge Report, the national average for a gallon of unleaded gas is hovering around $3.55. Diesel gas prices have steadily been increasing, and the US average is $3.94 a gallon. In California, regular gas is at $3.98 average and diesel is at $4.33.
Google Maps (GOOG) just launched a Fuel Cost Calculator to driving directions for Google Maps in Europe. Google’s new Fuel Cost Calculator can be used to estimate the average fuel cost for your journey. When a user asks for driving direction between two locations on the map, it shows an estimate of how much cash your have to spend in order to procure fuel for the journey. The estimated fuel cost appears at the bottom of the list of driving directions.
This new tool can be very helpful for many reasons. With rising gas costs on the horizon (Oil is expected to top $100 a barrel this year.) it would be nice to be able to plan your trips taking gas costs into consideration. If utilized properly, this new tool can help you to become aware of your carbon footprint, and gives you the opportunity to really cut your gas costs, which is a great incentive to take the time to plan your trips more efficiently.
Gas prices topped $3 earlier this month, and they haven’t fallen since. While the prices are hard on the average consumer, it’s especially hard on those in the (trucking) tractor-trailer industry, considering most big rigs get about 7 miles to the gallon (MPG). A truck driver can use over 140 gallons of diesel fuel each day he runs his route. Big rigs carry about 250-300 gallons of diesel at a cost of about $3.33 a gallon – or about $1,000 for a fill-up that will take a truck 1,500 miles. Fleet management costs can up add quickly.