August 18, 2014

Cover Story

CEO of the Year

Utah’s business landscape is rich with professionals who have le...Read More

Featured Articles

Did you go Skiing this winter?

Around Utah

Sections

Spotlight
Martin Plaehn

Spotlight
Karen Sendelback

Legal Briefs
Social Media and Employers: Friends or Enemies?

Money Talk
The Case for HSAs

Economic Insight
Time to Show Up

Lessons Learned
Make a Move

TechKnowledge
In the Lab

EntrepreneurEdge
Rent to Own

Business Trends
Back from the Dead

Executive Living
Artful Inspiration

Features
A Breath of Fresh Air

Features
Worst-Case Scenario

Regional Report
Northern Utah

Focus
Measure Up

Industry Outlook
Travel & Tourism

Players
Players

Article

Average Utah Gas Prices Down

Press Release

August 18, 2014

Salt Lake City – Gasoline prices are trending downward this month, according to recent AAA reports, giving motorists some relief from spikes in prices that are typical during summer months.

Motorists in Utah have been seeing modest dips at the pumps, yet the national story is different. And while the average price in Utah slipped just $0.04 since last month, the average price nationally dipped $0.18 a gallon during the same period.

The average price for a gallon of regular gasoline last week in Utah was $3.67, which was $0.07 lower than a year ago. Only nine states report prices higher than those in Utah.

All Utah cities tracked by AAA and offered as a service to consumers report single- digit decreases since last month with the exception of Vernal. The greatest drop, $0.08, was reported by Ogden. Provo’s price dropped $0.05.  Moab, St. George and Salt Lake City all record $0.04 decreases. Logan experienced the smallest decrease, $0.01. Vernal’s price increased $0.04.

The national average price for regular gasoline last week was $3.47. This was $0.08 less than a year ago. The national average price last week was the lowest it had been on that date since 2011. Hawaii had the highest average price, $4.32. California and Oregon report the highest average price in the contiguous states, at $3.91. Only Hawaii and Alaska registered prices over the $4.00 per gallon mark. South Carolina motorists had the lowest average price, $3.18.

Gasoline prices are moving downward in the majority of the country despite overseas conflicts and declining domestic refinery production.  In the past 14 days, average retail prices have dropped in 42 states. Price increases in eight Midwestern and Central states are attributed to refinery problems and maintenance at several facilities that supply the region.

“It is no surprise Utah has the tenth highest price in the nation. Utah traditionally registers some of the highest prices in the country in summer and then drops to the lower ranks as the temperature cools,” said Rolayne Fairclough, AAA Utah spokesperson. “Seeing the $0.04 decrease in Utah, the national movement downward and the non-reactive barrel price to geopolitical conflicts are hopeful signs lower prices may continue.”

Even though tensions in oil producing nations such as Iraq, Russia, and Libya dominate geopolitical headlines, oil prices are trading at near multi-month lows. At the close of trading recently, the price of West Texas Intermediate (WTI) settled $0.43 higher at $98.08 per barrel. This price is equal to the lowest settlement to begin a week since the beginning of February.    

 

Utah Business Social
UB Events View All
SAMY Awards 2015Utah Business Event
Jan 23, 2015
Utah Business magazine along with Presenting Sponsor: Griffin Hill, Premier Sponsors: The Summit ...
Forty Under 40 - 2015Utah Business Event
Feb 26, 2015
Utah Business Magazine along with Presenting Sponsors: Kirton McConkie, BIG-D Construction and Ma...
CEO of the Year 2015 ... NOMINATIONS NOW OPEN!Utah Business Event
Mar 31, 2015
CEO of the Year Nominations end - January 7, 2015. Visit: www.utahbusiness.com/nomination_item...
Community Events View All
Sandler Management Solutions
Dec 19, 2014
Looking for a way to manage your team systematically and effectively? Sandler Management Solutio...
Create Success: Intellectual Property Protection for Growth Technology Companies
Dec 31, 2015
This is a presentation by Michael Best, a major national leader in the commercialization of Intel...

info@utahbusiness.com  |  90 South 400 West, Ste 650 Salt Lake City, Utah 84101   |  (801) 568-0114

Advertise with Utah Business

Submit an Event

* indicates required information
* Event Name:
Price (general):
Website (if applicable):
Coordinator's Name:
Coordinator's Email:
Coordinator's Phone:
Venue Name:
Venue Address:
Venue City:
Venue Zip:
Event Capacity:
Date(s):
to
* Event Description:
  Cancel