June 13, 2013

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Article

Gas Prices Spiked in May in Utah and Nationally

Press Release

June 13, 2013

Salt Lake City — As summer driving season approaches, Utah motorists are experiencing a new surge in gas prices. All metro areas are registering price increases, ranging from $0.08 all the way up to $0.40 in some areas, according to the latest AAA gas price survey.

The current average price for a gallon of regular gasoline in Utah is $3.73, the same price Utahans paid in 2012 to date. The current price is $0.22 cents higher than last month’s May 14 AAA report. Twenty states have lower average prices than Utah.

All of the Utah cities, which AAA tracks as a service to consumers, report an increase since the May AAA report. Motorists in Logan are experiencing the largest increase of $0.40, at  $3.80 a gallon of unleaded regular gasoline. The lowest price was reported in St. George, at $3.62 per gallon, an increase of $0.08.

Drivers in 25 states and Washington D.C. have seen prices increase over the past week. This group is led by sharply higher prices in several Great Lakes States, including jumps of at least $0.08 per gallon. The near record high gas prices in these states are the product of continued low supplies and transportation challenges for wholesale gasoline in the Chicago market, particularly because of maintenance at the ExxonMobil refinery in Joliet, Illinois and the BP refinery in Whiting, Indiana.

“While prices may tick higher in the next few days, AAA continues to expect lower prices, both nationally and in the Great Lakes region, as June continues,” said Cynthia Harris, AAA Utah Spokesperson. “Prices should drop below a national average by the end of the month if refineries, particularly those in the Great Lakes, can transition smoothly from ongoing maintenance to full production.”

National gasoline markets have been driven by regional supply and production issues and not by West Texas Intermediate (WTI) crude oil prices, which traded within a narrow $5 range in the May. At the close of yesterday’s formal trading on the NYMEX, WTI settled down $0.26 at $95.77 per barrel.

The highest average price of gas, in the nation’s metro areas that AAA tracks, is in Wailuku, Hawaii. The price there is $4.58 per gallon. The lowest is in Greenville-Spartanburg-Anderson in South Carolina, where the price is $3.18 per gallon.                    

AAA Monthly Gas Price Averages – June, 2013

City/State/Region

Price

Monthly Change

City/State/Region

Price

Monthly Change

NATIONAL

3.63

+  .05

ELSEWHERE…

 

 

UTAH

3.73

+   .22

LAS VEGAS

3.45

+  .04

LOGAN

3.80

+   .40

LOS ANGELES

4.00

+  .04

MOAB

3.87

+   .21

PHOENIX

3.47

+  .03

OGDEN

3.73

+   .29

RENO

3.81

-   .04

PROVO

3.71

+   .23

SAN FRANCISCO

4.06

-   .07

ST. GEORGE

3.62

+   .08

Page 12
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