Gas prices

Today’s Deseret News has published a piece about the average gas price in Utah (see below). Thing is, oil was around $60 per barrel in the summer and gas prices were about the same as they are now that oil is up to about $80 per barrel. Very strange indeed.

Average gas price in Utah now $3.03

A new report from AAA of Utah shows the average price for regular, self-serve gasoline in the state has increased 22 cents during the past month and 69 cents over the past year.

Usually, gas prices will decrease in the fall, according to AAA Utah spokeswoman Rolayne Fairclough. But crude oil prices are at an all-time high and are driving up the gas prices, she said. Last week, the cost per barrel “peaked” at $98.62. The beginning of the year, prices were around $55 per barrel, AAA said.

“This is not a typical year,” Fairclough said. “The overall demand for gasoline has been flat compared to last year, but prices have skyrocketed this fall principally because of the record-setting price of crude oil.”

In Utah, the average price for gasoline was $3.03 on Tuesday. The national average is $3.11. AAA says that 40 states have average prices over $3 per gallon, including Western states such as Idaho, Montana and California.

California has the nation’s highest average price at $3.39 per gallon, while New Jersey has the lowest average price at $2.91 per gallon, according to AAA.

For more information, visit AAA’s Web site www.aaa.com/gasprices.

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One thought on “Gas prices

  1. Gas prices
    According to what I’ve read analyst are saying the high price of oil is driven my market forces as opposed to the forces of supply and demand.

    Like

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