Americans might notice an increase in gas prices as spring approaches.
According to AAA, the average nationwide gas price rose by eight cents to $3.39 during the week that ended on March 7.
“Spring is nearly here, with longer days, better weather, and more opportunities to hit the road,” AAA spokesperson Andrew Gross said in a statement. “And we are seeing this reflected in rising gasoline demand. But remember, we see this trend every year.”
In contrast, the national average of $3.39 is two cents lower than a year ago, but it is 25 cents higher than it was in February.
According to data from the Energy Information Administration (EIA), during the final week of February, the demand for gas increased from 8.47 to 9.01 million barrels per day. Oil prices increase in tandem with an increase in demand.
According to AAA, over 60% of gas costs are derived from crude oil. Last week, the price of an oil barrel was closer to $80, which is almost $10 more than it was a few months prior.
US States where Gas Prices are Rising the Quickest
According to AAA, these ten US states have experienced the biggest rise in average petrol prices since February 29.
- Ohio (+28 cents)
- Missouri (+27 cents)
- Kansas (+23 cents)
- North Dakota (+21 cents)
- Arizona (+17 cents)
- Oklahoma (+15 cents)
- Montana (+15 cents)
- Michigan (+14 cents)
- California (+12 cents)
- Nebraska (+12 cents)
The Ten Most Costly Gas Markets in America
These are the top ten gas-pricing markets in the nation.
- California ($48.88)
- Hawaii: $4.70
- Washington: $4.20
- Nevada: $4.11
- Oregon ($3.93)
- Illinois ($3.72)
- Alaska $3.70
- Arizona ($3.57)
- Michigan ($3.56)
- Pennsylvania ($3.52)