Gasoline prices nationwide have risen 3 cents since last week, averaging $2.91 — 41cents higher than last year and 6 cents higher than last month.
“The September switch-over to winter-blend gasoline ushered in cheaper gas prices compared to the summer, but that drop was short-lived,” Jeanette Casselano, AAA spokesperson, said. “Crude oil accounts for half of the retail pump price and crude is selling at some of the highest price points in four years. That means fall and year-end prices are going to be unseasonably expensive.”
This autumn, gasoline prices are forecasted to be their most expensive since 2014. The increase is likely because of a rise in crude-oil prices. Geopolitical tensions and concerns about the global crude supply also contributed to price hikes.
The states with the largest increases from last week were Ohio, Kentucky, Louisiana, California, Indiana, Virginia, New Jersey, Georgia, Washington D.C., and Alabama. Increases varied from 5 cents to 9 cents.
The six least expensive markets were Louisiana, Arkansas, Texas, Alabama, Mississippi, and South Carolina. Prices were between $2.61 and $2.67 this week, which is 29 cents to 40 cents higher than a year ago.
The majority of the most expensive markets in the country were on the West Coast.