Gas prices have continued to rise during the month of July. This week, a gallon of regular unleaded is averaging $3.67 per gallon, according to the AAA Fuel Gauge Report. This price is 4 cents higher than one week ago, one cent higher than a month ago, and 95 cents higher than one year ago. One week ago, gas was averaging $3.63 a gallon.
Gas prices have been rising across the entire US, according to AAA. In Florida the average price of $3.66 per gallon is a 6 cent increase from last week. Gas prices in Rhode Island are on the rise, up seven cents from last week, averaging $3.82 per gallon. Massachusetts gas prices are up for the second consecutive week. Regular gas jumped a nickel in the past week to an average of $3.71 per gallon.
In Maine the average price of gas has risen 4.9 cents per gallon in the past week, to $3.79 per gallon, according to MaineGasPrices.com, a price-watching website.
Gas prices in California are also up. The average price of a gallon of regular gas in the Inland Empire rose to $3.787, the sixth increase in eight days. Inland Empire gas prices are up 3.6 cents from a week ago. In San Diego County, the average price has increased to $3.80 a gallon.
Oil prices closed Friday at $97.49 a barrel on the New York Mercantile Exchange—$1.29 more than the week prior. However, oil fell in Monday trading as investors bet that Europe’s worsening debt crisis may slow the economy and crimp fuel demand, and as the euro tumbled the most in a week against the dollar.
If your business has been negatively affected by the recent increases in gas prices, now may be a good time to consider GPS fleet tracking. A fleet tracking system can significantly help you to cut fuel costs, increase efficiency, and reduce vehicle emissions. Most businesses see a positive ROI in less than 6 months.