Salt Lake City—From Monday to Tuesday, Utah’s average gas price increased more than any other state, $0.035. This is in sharp contrast to the relative price stability experienced in the past month. Even so, the preceding steadiness in price compared favorably for Utah drivers as the national average increased 40 of the last 43 days. Utah’s current average price is the 11th lowest in the country.
As of Tuesday, Utah’s average price is $2.22. This current average is $0.04 higher than yesterday and a week ago, $0.02 more than a month ago, and $0.18 greater than a year ago. All of the seven Utah cities AAA surveys monthly report increased prices with the exception of Logan where the average price fell by $0.05. Moab reports the highest average price, $2.57, and also the greatest monthly increase, $0.28. The lowest average price of the seven cities is found in Provo at $2.14.
“The increased price of oil has put pressure on gasoline prices in Utah and other Rocky Mountain states although the increases have been minimal compared with other areas in the country,” reports Rolayne Fairclough, AAA Utah spokesperson. “The region continues to be one of the most stable markets in the country as supply and demand have kept prices largely in balance.”
The national average price is $2.37, the same as yesterday, $0.02 higher than a week ago, $0.16 more than a month ago and $0.40 greater than a year ago. Drivers in Hawaii pay the highest average, $3.04, while California drivers pay the highest price, $2,81, in the contiguous states. Every state average is now above the $2 mark. The lowest average price, $2.14, is found in South Carolina.
At the end of formal trading on the NYMEX Friday, West Texas Intermediate (WTI) closed up 23 cents to settle at $53.99 per barrel. Yesterday in early morning trading, crude oil prices traded lower as a result of the increased Iranian oil exports and reports of increased U.S. drilling. At the end of trading yesterday WTI closed at $51.88. Capitalizing on the OPEC production cuts to gain market share, Iran has sold more than 13 million barrels of oil in the past three months. Another factor impacting the oil market are the reports of increased U.S. rig counts. According to a report from Baker Hughes, U.S. drillers added four more rigs, bringing the total U.S. rig count to 529. Increased oil production in the U.S. may keep a temporary cap on prices but traders will continue to monitor how OPEC cuts and increased Iranian exports impact the market.
Motorists can find current gas prices along their route with the free AAA Mobile app for iPhone, iPad and Android. The app can also be used to map a route, find discounts, book a hotel and access AAA roadside assistance. Learn more at AAA.com/mobile.
To get the best mileage possible, AAA recommends keeping tires at the recommended pressure, performing routine maintenance and making sure fluids are clean and belts and hoses are in good repair. Other tips include avoiding sudden stops and starts, combining trips, lightening a vehicle’s load and keeping speed in check. These tips will add to the current savings motorists are enjoying.
AAA’s Fuel Gauge Report is the most comprehensive retail gasoline survey available, with over 100,000 self-serve stations surveyed every day, nationwide. Data is provided in cooperation with OPIS Energy Group and Wright Express LLC.