The nation’s average gas price stands nearly 20 cents higher than it was at the beginning of 2019, reaching $2.42.
That figure is still 10 cents cheaper than things stood a year ago, but it represents a 17 cent jump over a single month — the largest price jump during January-February since 2015. Those prices continued to trickle upward in February as more refineries underwent both planned and unplanned maintenance, and as crude oil prices rise.
“Pump prices have been pushed higher this week due to reduced gasoline stock levels and increased demand,” Jeanette Casselano, AAA spokesperson, said. “Motorists can expect gas prices to continue to increase as refineries gear up for spring gasoline production and maintenance season.”
Missouri and Arkansas are seeing the lowest average prices at $2.17 per gallon; with Utah following at $2.18; and Mississippi, South Carolina, and Texas sitting at $2.19. Mississippi, however, saw some troubling changes, including one of the largest weekly increases in the nation, at an 8 cent gain. Other states that saw large week-over-week increases included Florida (13 cents), Alabama (11 cents), Louisiana (8 cents) and both Kansas and South Dakota (6 cents).
Overall, all regions have been affected to some degree. The Great Lakes and Central regions were some of the heaviest hit for increases, but the West Coast in general continues to supply some of the highest pump prices in the nation. The Mid-Atlantic and Northeast saw more modest price gains, and the Rockies also had only moderate pump changes in a pair of states (Colorado and Montana), but had a notable three states actually maintain flat pricing. The South and Southeast also ticked upward, with especially expensive gains in Florida, which saw a 31 cent jump since the beginning of the year.
Affected the oil market going forward is a restricted global supply as OPEC enforces a reduced production agreement through June. Likewise, experts theorize that decreased crude exports from Venezuela and Iran could urge prices higher, even as a potentially positive resolution to a trade dispute between the United States and China could bolster matters.