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Salt Lake City — Late summer is hitting the West hard when it comes to gasoline prices. With the exception of the Northeast and Illinois, Western States and the Dakotas are reporting the highest prices in the contiguous states. Nationally, prices are dropping, giving hope to motorists that this trend will move west.
The current average price for a gallon of regular gasoline in Utah is $3.73. This is a $.02 increase since last month’s AAA report, a $.01 decrease from a week ago and $.27 higher than a year ago. Only nine states have prices higher than Utah’s. Since last month’s report, Utah’s gasoline price reached its highest mark, $3.74, on Aug. 2. Utah’s lowest price was $3.68 on July 23.
Utah’s gasoline prices are following a typical pattern for this time of year. In warmer months, Utah’s prices increase to the highest of the year. If the historic pattern holds, prices should start to decrease after the middle of September and then continue downward to reach the lowest marks during the winter months.
The Utah cities tracked by AAA as a service to consumers report increases, decreases and no change this month. The greatest increase, $.04 per gallon, was reported in St. George while Provo’s price dropped $.05 since last month’s report.
The national average price per gallon of regular gasoline is $3.54, a $.06 increase since last month’s report on July 9. This price is $.07 lower than a week ago and $.16 lower than a year ago. Since last month’s AAA report, the national average price reached its highest price of $3.67 on July 19, dropping every day to date since then.
“While late summer hurricanes and resulting refinery disruptions may force national prices upward, there are no major hurricanes threatening the Gulf Coast and refineries are running smoothly,” said Rolayne Fairclough, AAA Utah Spokesperson. “With these conditions in place, the national average price should continue to fall.”
West Texas Intermediate (WTI) crude oil settled at $106.11 per barrel at the close of trading yesterday. Compared to last month’s report, this price is up $2.97 per barrel.