Friday, Aug. 22, 2014

Utah gas prices rise 28 cents in just one month

By Jasen Lee, Deseret News

Published: Wed, May 14 8:38 p.m. MDT

 In April, Utah’s average price for a gallon of unleaded gasoline was the second lowest in the country. Today, Utah’s average price — $3.60 — is 28 cents higher than a month ago.

In April, Utah’s average price for a gallon of unleaded gasoline was the second lowest in the country. Today, Utah’s average price — $3.60 — is 28 cents higher than a month ago.

(Amy Sancetta, AP)

SALT LAKE CITY — After relatively low gasoline prices last month, the cost of filling up at the fuel pump is climbing fast in the Beehive State.

In April, Utah’s $3.32 average price for a gallon of regular unleaded gasoline was the second lowest in the country. Today, the state’s mean price of $3.60 is 28 cents higher than a month ago and reflects the greatest monthly hike reported nationwide. Twenty-four states have average prices lower than Utah.

Every Utah city tracked by AAA reported double-digit increases since last month. The greatest jump was felt by motorists in Ogden, where prices rose 32 cents per gallon. Conversely, Moab reported the smallest increase at 17 cents.

While Utah drivers struggle with increasing prices, the national average has fallen for 15 straight days — the longest streak since prices dropped 36 days in a row last fall. The national average price is $3.64 per gallon.

Hawaii reported the highest price at $4.37 per gallon, followed by California at $4.18. Missouri registered the lowest average price at $3.37 per gallon.

The national price decreases reflect a typical pattern for this time of year, said AAA spokeswoman Rolayne Fairclough, as refinery maintenance begins before the May 1 deadline to start producing summer-blend fuel. With the transition complete, the national falling averages are more likely to reflect the peak of gas prices in many parts of the country, she said.

Another factor keeping downward pressure on prices nationally throughout the summer is the country’s record-high stockpile of gasoline, she said. Due to increased supplies and the relative absence of disruptions to production and distribution, drivers in many states are likely to see prices continue to fall, Fairclough added.

Utah, on the other hand, is following its own characteristic pattern of pricing, she said.

“After enjoying some of the lowest prices in the country during the late fall, winter and early spring, motorists should expect to see the typical price increases during the late spring, summer and early fall months,” Fairclough said.

Email: jlee@deseretnews.com

Twitter: JasenLee1

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1. UtahBlueDevil
Durham, NC,
May 14, 2014

It's happening nationally.... and the price of oil has not wavered more than a percent or two over the last 4 or 5 months. Just a reminder that in this case, price has little to do with supply, nor demand.

2. Shawnm750
West Jordan, UT,
May 14, 2014

So when supply is low, the price goes up. When supply is high, the price goes up. Now, I'm no economist, but I thought an increase in supply meant prices were supposed to drop... Seems we ALWAYS have a reason why prices are up here in Utah. There's always some refinery maintenance/issue that's to blame for the increase.

3. Rick2009
MESA, AZ,
May 14, 2014

In a perfect world where politicians, economists and governments did not play games, the law of supply and demand would work. But we no longer live in that world, regardless of what the econ teacher teaches. Be prepared for rising gas prices in the next few years as laws are and have been manipulated outside of what is being reported by mainstream media. The falling dollar has a lot to do with it.

4. Liberal Ted
Salt Lake City, UT,
May 14, 2014

Yes we can! Yes we can! Yes we can!

5. Fred44
Salt Lake City, Utah,
May 14, 2014

We have to keep raising prices, that is the only way that each quarter the oil companies can set new records for profit. Remember though without that taxpayer welfare for oil companies we would be paying even more.