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Gas Prices Spurt Ever Higher

Four price records in four days

By Joe Benton
ConsumerAffairs.com

March 14, 2008

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Consumers nationwide are paying record gasoline prices after four straight days of price increases at the pump.

A gallon of regular self-serve now sells for an average national price of $3.28. Diesel sells for $3.938. Both are record high prices, according to the AAA Fuel Gauge Report Web site.

One month ago regular gasoline sold for $2.92 a gallon and one year ago $2.549 a gallon.

Mid-grade gasoline now sells for $3.48 and premium fetches $3.61 a gallon.

The least expensive regular gasoline is found in Missouri where consumers pay an average price of $3.084 a gallon.

The rest of the west is not fairing as well. Californians are paying the highest average prices in the country at of $3.62 for a gallon of regular. Alaska, Oregon, Washington, and Hawaii all pay more than $3.40 a gallon.

New Jersey enjoys the least expensive gasoline in the country with a gallon of regular averaging $3.039. Consumers in Burlington, New Jersey can still find regular gasoline fore less that $3 at $2.93.

The most expensive gallon of gasoline in the U.S. is sold in Kailua Kona, Hawaii for $4.19.

Here is a look at some gasoline prices from around the country in the ConsumerAffairs.com Gas Price Round Up.

California: The average price of a gallon of regular gasoline in San Diego County increased 7.8 cents over the past week, rising to $3.619 to set a record for a second consecutive week, the Automobile Club of Southern California reported.

The average price has risen 51 cents over the past month and 52 cents since this time last year. The previous record of $3.541 was set last week.

Price increases are usually a result of demand outpacing supply, but not during this round of increases, according to Auto Club spokesman Jeffrey Spring.

“California refiners are quite able to meet demand right now, according to figures from oil industry analysts that show inventories ranging nearly 30 percent higher than at this time last year," Spring said. “These record prices in California and throughout the nation are being driven by market speculation that a major supply crisis might occur.”

Regular gasoline averages $3.602 a gallon in Los Angeles, $3.595 a gallon in Sacramento, $3.758 a gallon in San Francisco and a $3.644 a gallon in Oakland.

Texas: Regular self-serve averaged $3.16 per gallon across the state in the weekly AAA Texas gasoline price survey, 6 cents more than last week.

"Every Texas region surveyed set new record highs this week, with Amarillo being the only exception," said auto club spokeswoman Rose Rougeau. "Texarkana is the only area that posted a decrease. However, with record crude oil prices pushing retail gas prices upward, it is unlikely that area will continue to move downward."

San Antonio had the state's lowest average with regular self-serve at $3.12 per gallon, 5 cents more than last week. Fort Worth surpassed Dallas as the Texas locale with the most expensive gas averaging $3.17 per gallon, up 9 cents from last week.

Florida: The cost of a gallon of gasoline has escalated to a record level throughout Florida.

The average pump price in Florida hit $3.317 a gallon for regular and $3.995 a gallon for diesel.

Here is a look at some prices from around the state: Miami - $3.378, Tampa Bay - $3.262, Jacksonville - $3.278, Orlando - $3.255.

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