The price of oil is on the rise again, surpassing $80 a barrel this week. Despite this, gasoline prices remain stable, albeit at a high level.
The AAA’s daily gasoline price survey shows the national average price for regular gasoline at $3.30 a gallon, the same as last Friday. That’s three hundred less than a month ago. The average premium gasoline price is $3.94 a gallon, a penny a gallon higher than last week. Diesel fuel prices are $3.59 a gallon, two cents higher than a week ago.
Events beyond US borders are fueling the recent rise in oil prices. Social unrest and violence in Kazakhstan, a member of the OPEC+ alliance, have forced that country to cut production.
“Markets, in general, do not like uncertainty and volatility, and the oil market is no exception,” said Andrew Gross, spokesman for AAA. “Kazakhstan’s oil production cuts demonstrate that in times of supply shortages, it doesn’t take much to put upward pressure on the overall price of oil.”
Despite the stability of the national average gasoline price, motorists in some states have experienced significant price fluctuations. The average statewide gasoline price rose six cents per gallon in Oregon. It’s up five hundred this week in Washington and Alaska.
States with the most expensive gas
These states currently have the highest prices for regular gas, according to AAA:
States with the cheapest gas
AAA reports that these states currently have the lowest prices for regular gas:
South Carolina ($3.01)