US gasoline rises on Midwest, west-coast refinery maintenance

14 May 2013 16:41  [Source: ICIS news]

HOUSTON (ICIS)--The US national average retail price for regular unleaded gasoline rose 6 cents/gal week on week to $3.58/gal, making it the largest weekly increase since February, automobile organisation AAA said in its Fuel Gauge Report on Tuesday.

In 2012, the price peaked at $3.94/gal on 5-6 April. Afterwards, gasoline prices declined 82 out of 87 days for a total of 61 cents from 6 April to 2 July, according to the AAA.

In comparison, the average price this year has increased for the past eight days to reach its highest price in more than a month.

“With this in mind, it is likely that the year-over-year discount will continue to fade in the coming days,” said AAA’s Michael Green.

The 2013 peak price still holds at $3.79/gal from 27 February.

Furthermore, AAA said motorists in every state except West Virginia and Ohio are paying higher prices at the pump.

“While higher crude oil prices have put upward pressure on retail gasoline prices across the country, it has been tight supplies and refinery maintenance – both planned and unplanned – in midcontinent and west coast that has squeezed prices substantially higher for drivers in those regions,” said Green.

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By: Anna Matherne

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