AAA: Current Gasoline Price Average is on Track to Post Record High this Year

Even if the prices at the pump had been posting a steady decline for several months, the current gasoline prices are on track to finish this year on a record breaking level, according to the American Automobile Association.

With only a few days to go before this year ends, the year-to-date national average price of regular unleaded gas is $3.61 per gallon. That rate is higher by 10 cents compared to the yearly average of gasoline prices last year, according to figures.

The trends of gasoline prices this year were also off from the usual as the national average prices, as well as those of other states, peaked in the month of April to as much as $3.94 per gallon. Moreover, prices reached an atypical low in the first week of July, with a national average of $3.33.

AAA had forecasted the gasoline prices today to keep on falling until the close of this year. However, the national average actually increased last week to $3.26 per gallon. That rate is higher compared to its level during the previous week of $3.22 per gallon.

In 2012, like last year, has been an unstable year for the prices of gasoline as well as oil, with fuels posting some trends that were not expected, according to Jessica Brady, the spokeswoman for AAA. The prices at the pump in the year to come may also be quite the same in terms of volatility and trends that are beyond the norm.

By: Chris Termeer