Utah gas prices shoot up 14 cents
Tuesday , July 08, 2014 - 11:30 AM
SALT LAKE CITY – Utah gas prices are heating up after riding a see-saw this spring. According to recent AAA reports on gas prices, May showed the greatest increase in the country, ratcheting up 28 cents per gallon, June’s prices held relatively steady, and currently in July, the average price has increased 14 cents.
The current average price for a gallon of regular gasoline in Utah is $3.71, 4 cents higher than a week ago, $0.14 higher than a month ago yet the same price as a year ago. The July AAA report shows Utah prices in the same range or higher as those from a year ago. Seventeen states report prices higher than those in Utah.
All Utah cities tracked by AAA report double- digit increases since last month. The greatest gain, 15 cents, was reported by both Ogden and Moab.
While Utah gas prices shot up, the national average price is the same as last month’s AAA report. The national average price for regular gasoline is $3.65. Hawaii has the highest average price, $4.34. California reports the highest average price in the contiguous states, at $4.14. Hawaii, Alaska, California and Washington all register prices over the $4 per gallon mark. South Carolina motorists enjoy the lowest average price, $3.37.
“While Utah motorists know the pump price typically rises with the thermometer, the current price is the highest it has been on this date since 2008, the year Utah registered its highest prices ever,” said Rolayne Fairclough, AAA Utah spokesperson. “
On a national level, domestic oil production continues to increase and there has been a relatively trouble-free season of production and distribution. Oil is a global commodity and the violence in Iraq continues to catch the attention of market watchers. Production in the south of Iraq remains unaffected which has calmed fears of a disruption in the supply and somewhat lessened the upward pressure on oil prices. As oil prices ease, coupled with lower wholesale gasoline prices in the U.S., some relief should be felt at the pump. At the close of formal trading Monday, West Texas Intermediate crude oil settled 53 cents lower at $103.53.STORY:201407080066Utah gas prices shoot up 14 cents/Business/2014/07/08/Utah-gas-prices-shoot-up-14-cents.html-1