US retail gasoline prices rise at slower rate year on year

29 January 2013 19:58  [Source: ICIS news]

HOUSTON (ICIS)--While the US national average price of a gallon of retail gasoline has increased in 2013, the gain is less than it was in 2012, automobile organisation AAA said on Tuesday.

The national average price of regular unleaded gasoline is $3.35/gal, AAA said in its Fuel Gauge Report. Since the beginning of 2013, the price has increased by 6 cents/gal, which is lower than the nearly 14-cent/gal gain during the same time period last year.

“Pump prices rose to begin 2012 because of higher global oil prices due to geopolitical tensions with Iran,” said AAA’s Michael Green. “This year, while markets have kept an eye on recent episodes of violence in Algeria, prices have risen largely because of higher oil prices from positive economic news and recent regional refinery issues.”

Retail gasoline prices have increased throughout the US with the exception of Montana and Washington, DC.

Prices in the central US have increased the most, as the cost of crude products used by refiners supplying these regions have risen, AAA said.

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By: Anna Matherne
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