Oil Prices Up, Gasoline Prices Up
Average retail gasoline prices in Wyoming have risen 4.7 cents per gallon in the past week, averaging $2.34/g yesterday, according to GasBuddy's daily survey of 494 gas outlets in Wyoming.
This compares with the national average that has increased 8.2 cents per gallon in the last week to $2.54/g, according to gasoline price website GasBuddy.com.
Including the change in gas prices in Wyoming during the past week, prices yesterday were 108.3 cents per gallon lower than the same day one year ago and are 13.7 cents per gallon higher than a month ago. The national average has increased 10.7 cents per gallon during the last month and stands 116.7 cents per gallon lower than this day one year ago.
"A rebound in crude oil prices has fueled up gasoline prices in the last week across the United States, with even bigger spikes in the West Coast, where refinery problems have returned," said Patrick DeHaan, GasBuddy senior petroleum analyst. "The national average stands at a four month high, though for this date prices remain at their lowest since 2009. Late last week, West Texas Intermediate crude oil stood near $58 a barrel, the highest since December 15, 2014. That price stands some $10 a barrel higher than a month ago, and has been a key contributor to the rise in gasoline prices that many states are witnessing. Refinery issues along the West Coast have added insult to injury for Californians, where prices are up by 25 cents per gallon just in the last week in some areas," DeHaan noted.
Monthly comparisons show all but three of the fifty states seeing higher prices than they stood four weeks ago, with Illinois, Hawaii and Wisconsin showing declines. In states that saw increases, New Jersey, Utah and Connecticut saw the largest gains- all rising over 20 cents per gallon.
Meanwhile, all fifty states stood far lower today than a year ago, with the biggest drops in Michigan, Indiana and Illinois, who all stand nearly $1.30 per gallon lower than a year ago. On the other side, Utah, Nevada and Alaska have seen the smallest drops versus last year at 75 cents, 82 cents and 83 cents, respectively.