US average retail gasoline prices hit two-month high

21 May 2013 17:11  [Source: ICIS news]

HOUSTON (ICIS)--The national average price for regular unleaded retail gasoline in the US is at $3.65/gal, which is the highest price since March, automobile organisation AAA said in its Fuel Gauge Report on Tuesday.

The national average price is 7 cents/gal more expensive than one week ago and 14 cents/gal more expensive than one month ago.

“With the national average rising steadily, compared to a year ago when prices were tumbling, it is likely that the average will once again rise above year-ago levels in the coming days and may be more expensive than last year for the approaching Memorial Day holiday weekend,” said Michael Green, AAA spokesperson.

The main reason for higher gasoline prices are tight regional supplies, particularly in the Midwest, and refinery maintenance.

According to the AAA, over the past two weeks retail prices in Minnesota and North Dakota increased by 68 cents/gal and 63 cents/gal, respectively. This has pushed prices to all-time state highs.

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By: Anna Matherne

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