November 14, 2012

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Utah Gas Prices Rank 6th Highest in Nation

Press Release

November 14, 2012

Utah’s average gas price of $3.71 a gallon is the sixth highest in the nation and fourth highest in the forty-eight contiguous states. Only Alaska, California, Connecticut, Hawaii and New York have higher prices.

The average price in Utah for a gallon of regular gasoline dropped 4 cents from last month’s AAA report on October 9 to $3.71. Utah’s price is 32 cents higher than a year ago. All of the Utah cities AAA tracks, as a service to consumers, report lower gas prices than a month ago.

The national average price dropped 38 cents from last month’s AAA report to $3.44 a gallon. This price is only 2 cents higher than a year ago. Hawaii has the highest average price at $4.19 and New York has the highest for the 48 contiguous states at $3.99. The motorists in Missouri enjoy the lowest average price, $3.10 a gallon.

“The 38 cent drop since last month in the national average price to within 2 cents of last year’s price is noteworthy after months of  prices that were far higher than a year ago,” said Rolayne Fairclough, AAA Utah spokesperson. “This drop was even more significant with the infrastructure disruptions and gasoline rationing resulting from Hurricane Sandy.”

The aftermath of Hurricane Sandy pushed prices up in New Jersey and New York as power outages and distribution systems ceased to function. AAA estimates that 70-75 percent of the stations in New York City and 80-85 percent of those in New Jersey are in operation and the vast majority of supply terminals are restored. New Jersey announced that gasoline rationing ended at 6:00 a.m. this morning.

“The change from summer to winter formulation, the decrease in seasonal driving and the lower price of crude oil are major components in the dramatic drop in the national average price,” said Rolayne Fairclough, AAA Utah spokesperson. “The national average price should continue to move lower as distribution issues caused by Sandy are solved.”

Global oil prices are moving downward as a reflection of the stronger U.S. dollar and continued signs of global economic weakness. West Texas Intermediate (WTI) crude oil continues to move lower. At the close of yesterday’s formal trading on the NYMEX, WTI was down 50 cents on the day to settle at $85.57. This price is $3.76 lower than that recorded in last month’s AAA gas price report.    

To get the best mileage possible, AAA recommends keeping tires at the proper pressure, performing routine maintenance and making sure fluids are clean and belts and hoses are in good repair. Smooth driving to avoid sudden stops and starts, combining trips and lightening your load also helps conserve gasoline.

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