Pump Prices Hit Six Week High

Today’s national average price of a gallon of regular unleaded gasoline is $2.32. The national average is at its highest price since June 15 and has now increased for 12 of the last 15 days. Pump prices in 47 states and Washington D.C. moved higher on the week, resulting from strong demand, rising exports and declining U.S. crude oil inventory levels.

“As summer moves forward, the days of dropping summer gas prices appear to be behind us for now,” said Jeanette Casselano, AAA Spokesperson. “U.S. crude inventories are moving in the opposite direction of demand -– a perfect storm for continued price increases heading into August.”

Locally, South Jersey motorists are paying an average of $2.31 for a gallon of unleaded gasoline. This is a 1-cent increase since last week ($2.30), and is 14 cents more than last month ($2.17). Today’s price is also 45 cents higher than this time last year ($1.86).

Quick Stats

• The nation’s top ten least expensive markets are: South Carolina ($2.02), Alabama ($2.03), Mississippi ($2.03), Arkansas ($2.06), Missouri ($2.08), Tennessee ($2.09), Oklahoma ($2.09), Louisiana ($2.09), Virginia ($2.09) and Texas ($2.10).

• The nation’s top ten markets with the largest monthly increases include: Indiana (+26 cents), Ohio (+20 cents), Michigan (+17 cents), Kentucky (+15 cents), Florida (+13 cents), Oklahoma (+13 cents), South Carolina (+11 cents), Kansas (+11 cents), Washington, D.C (+10 cents) and Delaware (+10 cents).

Mid-Atlantic and Northeast

Gas prices across the region continue to join the pack of most expensive states in the country, with Washington, D.C. ($2.55) and Pennsylvania ($2.52) leading the way.