Upward Climb
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No Comments [ Add Comment ]Gas prices rising in Utah, rest of nation
NEW YORK -- The national average price for gasoline rose for the ninth straight week, according to a government report released Monday. Utah prices also continued a steady climb, according to a daily survey of gas stations in the state.
The U.S. Energy Information Administration said drivers paid an average of $2.707 a gallon for regular gasoline in the week ended April 2, up from $2.610 the previous week.
Local prices are still lower than the national average, but have risen steadily since early March.
The average price for a gallon of regular in the Ogden-Salt Lake City area was $2.533 on Monday, up from $2.451 a week earlier and $2.161 a month ago, according to a daily survey from AAA.
Utah's statewide average has increased more than 36 cents in the past month and was at $2.592 on Monday.
A year ago, local drivers were paying an average of $2.242 per gallon.
Nationwide, retail gasoline prices are up 11.9 cents from a year ago at this time. Prices have risen 54.2 cents over the past nine weeks, following a previous five-week decline.
The pump price rose most notably in the Gulf Coast region, where average prices climbed 12.3 cents from the prior week to $2.565 a gallon. However, drivers on the West Coast paid the highest average price of $3.096 a gallon, up from $3.016 a week earlier.
On the New York Mercantile Exchange, gasoline for May delivery fell 1.52 cent Monday to settle at $2.0428 a gallon.
The retail price of gasoline has followed the futures market sharply higher in recent weeks. The jump has been triggered by a decline in U.S. gasoline inventories ahead of the summer driving season, when gasoline demand rises and prices usually peak.
Oil prices reached a six-month high last week as tensions between Iran and the West sparked supply concerns. A barrel of crude oil for May delivery rose 7 cents Monday to settle at $65.94 a barrel on the Nymex.
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