The average gasoline price nationwide is $2.61, an increase of 5 cents from last week, despite demand dropping to 9.3 million barrels-per-day.
This price is 9 cents higher than February and 33 cents higher than March 2017.
“Right now we are seeing the market starting to purge winter-blend gasoline to make room for summer-blend,” Jeanette Casselano, AAA spokesperson, said. “The jump in gas prices is just the beginning for the season. AAA forecasts the national gas price average will be as much as $2.70/gallon this spring and summer.”
In six states – Delaware, Idaho, Maryland, New Mexico, South Carolina and Utah – prices increased by double digits. Idaho saw the nation’s largest increase, 16 cents.
Missouri had the nation’s lowest price, at $2.31 a gallon.
Drivers in the majority of the country saw spikes at the pump. Only Minnesota, North Dakota and Ohio saw decreases while prices in Montana were unchanged from last week.
When compared to the last week in March 2017, four states are more than 35 cents higher. Delaware and Tennessee increased 37 cents while Maryland and Vermont rose 36 cents.
Crude oil inventories fell 2.6 million barrels from last week for the third consecutive week. Inventories are 104.8 million barrels lower than last year.