Gas prices to heat up again this summer
AAA Utah reported Tuesday that Utah's average gasoline price rose 45 cents during the past month, although it still is less expensive than the national average.
Utahns are paying $2.79 for a gallon of regular, self-serve gasoline. The U.S. average is $2.87, which is up 33 cents from March.
"The U.S. Department of Energy reported a very weak gasoline inventory early in April," Rolayne Fairclough, AAA Utah spokeswoman, said in a prepared statement. "This could explain in part the dramatic rise in gasoline prices as refiners try to stockpile reserves for the high demand of the summer driving season."
Federal energy officials said Tuesday that uncertainty about refinery capacity in spots like Nigeria and Venezuela will put pressure on U.S. motor fuel prices this summer.
The U.S. Energy Information Administration — the statistical arm of the Energy Department — expects average gasoline prices of $2.81 a gallon this summer, down from $2.84 last summer, although prices could vary widely in different states and from month to month. The outlook forecasts a peak in the average price at $2.87 in May.
Light, sweet crude oil for May delivery settled down 51 cents at $63.10 a barrel Tuesday on the New York Mercantile Exchange. Gasoline futures plunged 5.99 cents to settle at $2.0558 a gallon on the Nymex.
Among Utah cities that are part of AAA's monthly survey, each saw a rise of at least 43 cents from a month ago. Salt Lake City, with the lowest average of $2.73, nonetheless saw a 44-cent increase during that period.
Ogden and Provo each had an average of $2.78, although Ogden's increase was 46 cents and Provo's was 44 cents. Moab topped the state charts, with an average of $2.95, up a half-dollar since March.
Other surveyed cities include Logan, up 45 cents to $2.81; Vernal, up 48 cents to $2.82; and St. George, up 43 cents to $2.83.
AAA Utah surveys a limited number of communities across the state in its monthly gas report. Individual service stations sell gas at both higher and lower prices, sometimes in the same city block. AAA's report focuses on self-serve regular gasoline without regard to its octane level.
Among Western states, Utah's average was beaten only by Wyoming's $2.70, up 39 cents.
Idaho's average rose 44 cents to $2.85; Montana's climbed 46 cents to $2.88; Colorado's average of $2.82 was up 33 cents; Arizona's $2.95 increased 35 cents; Nevada's 31-cent rise put its average at $3.07; and California's $3.34 average was tops in the country and up 23 cents from March.
Contributing: Associated Press
E-mail: bwallace@desnews.com
You can be the first to comment on this story.