AAA – Current Gasoline Price Higher than Last Month

A report of the American Automobile Association (AAA) shows that the current gasoline price is higher by 7 cents versus last month, with the Midwest and the East Coast looking at the most expensive prices.

According to the report of the U.S. auto club, the country’s commuters could anticipate to spend around $3.36 per gallon for regular unleaded gas. That rate is 7 cents more than last month’s national average. However, it is 6 cents lower compared to the same period last year.

The latest average price of regular unleaded in New York City was $3.83 per gallon. The prices of gasoline in the East Coast surged after the region was hit by Superstorm Sandy in the latter parts of 2012.

In Chicago, the recent amount that drivers paid for regular unleaded gas was $3.60 per gallon, according to AAA.

In a Lincoln Journal Star report of Nebraska, Rose White, spokeswoman of AAA Nebraska, was quoted as saying that the increase in the Midwest’s gasoline price today was partly caused by the greater demand for Canadian crude oil.

U.S. and Canadian pipeline firms have either reversed the present pipeline networks, such as the Seaway pipeline, or create new ones, such as the Keystone XL, to alleviate the blockage at Cushing, Oklahoma’s storage hub. According to the Nebraska report, that left the Midwest without its typical refinery inventories, which may be the reason for the surge in the region’s gasoline prices.

Nebraskans recently spent around $3.34 per gallon for regular unleaded gas, higher by 14 cents versus the past month.

By: Chris Termeer