Gas prices in region increase by almost 6 cents per gallon
Susquehanna Valley gas prices increased nearly six cents to $3.76 a gallon this week, according to AAA East Central.
On the national front
Tuesday's national average price at the pump was $3.69 per gallon. This is about three cents more than last week, and 14 cents more than one month ago. The national average is up nearly 19 cents compared to the same date last year. Despite this differential, today's price is lower than the same date in both 2011 and 2012. The price remains in line with AAA's projection for spring gas prices which expected a peak between $3.55 and $3.75.
During the second half of April, drivers in the Northeastern corridor have experienced some of the largest increases in retail prices. Meanwhile, over the last seven days, prices in some Southeastern and Midcontinent states have declined, including Kentucky (-4 cents). Drivers in 37 states and the District of Columbia continue to pay a year-over-year premium in the double digits, led by California (+35 cents) and Georgia (+32 cents).
Ongoing geopolitical tensions between Russia and Ukraine remain a central reason for crude oil prices remaining elevated, which has contributed to higher gas prices. Additional sanctions on Russia were issued Monday by the Obama administration, and market watchers will continue to monitor the situation closely for any signs of further escalation that could impact global oil supplies. At the close of formal trading Monday on the NYMEX, WTI closed 24 cents higher at $100.84 per barrel. This marked the 24th consecutive settlement above $100 per barrel.
(AAA East Central - a not-for-profit association with 82 local offices in Pennsylvania, West Virginia, Ohio, New York and Kentucky servicing 2.7 million members - provides Fuel Gauge each week.)
This week's Susquehanna Valley average price - $3.757
Average price during the week of April 22, 2014 - $3.700
Average price during the week of April 23, 2013 - $3.390
The following is a list of the average price of unleaded self-serve gasoline in various areas:
Lewisburg - $3.752
Mifflinburg - $3.752
Milton - $3.752
Selinsgrove - $3.760
Shamokin - $3.764
Sunbury - $3.759