U.S. Gasoline Prices Posting Unusual Trends

The average price of gasoline in the U.S. gained 11 cents per gallon over the last two weeks.

According to the recently released Lundberg Survey, the average gasoline prices today of regular gas, midgrade gas and premium gas are $3.66, $3.84 and $3.98 per gallon, respectively.

The price of diesel remained the same, at $3.93 per gallon.

Among the cities covered by the survey in the lower 48 U.S. states, the cheapest current gasoline price average is at Tucson, Arizona at $3.18 per gallon while the most expensive gas price is in Minneapolis, at $4.27 per gallon.

Specifically, in California, the cheapest average gasoline price is in Fresno at $3.94 per gallon. The most expensive is in San Francisco at $4.07 per gallon. The statewide average for each gallon of regular gas is 18 cents higher at $4.03 per gallon.

In the past seven days, several shocks have been seen at the pump by drivers in the country’s Midwest. Prices of gasoline in the Midwest, in states like Nebraska, Oklahoma, Minnesota, North Dakota, South Dakota and Kansas, surpass the rates of California. Indeed, prices of gasoline in these areas are not going unnoticed since they are not as high.

Other petroleum analysts have said that they have never seen these kinds of unusual trends in the price of gasoline happen all at one time, where rates at the pump are sharply rising in one area, dropping in another and staying the same in others. What is being seen at the pump at this time is rare.

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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