Crude Oil Price Growth Evident in Gasoline Prices of Several US States

Based on the Fuel Gauge Report of the AAA, WTI crude oil prices recently rose by $2.24 to reach $100.91 a barrel. That rate was the first time it reached more than $100 since the month of January.

Crude prices were forced higher as lawmakers of Greece permitted austerity measures that are needed for the nation to obtain the second set of bailout it need to prevent a debt default.

Nationally, gasoline prices have also continuously increased. The national average for the self-serve gasoline’s present retail price grew by 12.5 cents compared to last month to reach $3.513 per gallon.

In the state of Pennsylvania, the current average cost of self-serve gasoline increased by 14.6 cents compared to last month and 44.7 versus the past year at $3.616 per gallon.

The average gasoline price of $3.615 for self-serve regular unleaded fuel in the Lehigh Valley is higher by 15.7 cents versus last month and 45.4 cents compared to the previous year.

In the market of Philadelphia, the $3.623 average self-serve regular unleaded gas price per gallon is greater by 15.4 cents compared to the previous month and 42.3 cents versus last year.

The biggest organization for motoring and holiday travel, AAA offers insurance, travel, vehicle and financial related services to over 53 million members. Since it was established in 1902, the non-profit, tax-paying organization has been an advocate and leader of the security and safety of all its members.

The East Pennyslvania Region of the AAA East Central which is an affiliate of the Pennsylvania AAA federation and AAA has members numbering to over 270,000 throughout its area of service which covers Lehigh County and portion of Bucks, Chester, Carbon, Northampton and Montgomery counties.

By Chris Termeer

Chris Termeer

Chris Termeer is an oil and gas consultant, industry commentator and analyst. His book, Fundamentals of Investing in Oil and Gas provides a comprehensive overview of all aspects of the oil and gas industry, including exploration, drilling, production, storage, transportation and refining, to name but a few.

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